SINGLE-FAMILY PERMITS End on a Strong Note in 2020
F
BY DANUSHKA NANAYAKKARA-SKILLINGTON
or 2020, the total number of single-family permits issued yearto-date (YTD) reached 977,863 nationwide. On a year-over-year (YoY) basis, this is a 14.5% increase over the December 2019 level of 854,158. Year-to-date ending in December, single-family permits reported increases in all four regions. The South reported the strongest increase by 16.9%, followed by the Midwest (+13.1%), the Northeast (+11.6%), and the West (10.5%). However, multifamily permits continued to underperform compared to December 2019, recording declines in all four regions. The Northeast region had the steepest decline in multifamily (-11.1%), followed by the South (-9.2%), West (-8.2%), and the Midwest (-1.2%). Between December 2019 YTD and December 2020 YTD, 45 states saw growth in single-family permits issued while five states and the District of Columbia registered a decline. Vermont recorded the highest growth rate during this time at 45.7% from 882 to 1,285, while singlefamily permits in the District of Columbia declined by 17.3%, from 168 in 2019 to 139 in 2020. The 10 states issuing the highest number of single-family permits combined accounted for 61.5% of the total single-family permits issued.
page 16
www.ncbia.com
February 2021
