June Sees Year-over-Year Gains in Single-Family Permits

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This is a custom built five bedroom, four and a half bathroom has many custom features both inside and out.According to the U.S. Census Bureau Building Permits Survey, the first six months of the year saw a total of 433,484 single-family permits issued year-to-date (YTD). This showed a 3.8 increase from June 2019 which totaled to 417,453.

As seen in the graph, across the four regions the Southeast saw a 6.5 increase while the Northeast saw a 1.7 decrease in single-family permits. In multi-family permits, the South saw a 3.1 increase while the Northeast saw a 14.7% decrease.

The data gathered from June 2019 (YTD) and June 2020 (YTD) reported 34 states with an increase in single-family homes and 16 states (included the District of Columbia) with a decline.
South Dakota saw the highest growth rate at 36.7% from 1,178 to 1,610 while the District of Columbia saw a huge decline by 50% from 108 to 54.

The top ten metro areas with the highest number of single-family permits issued YTD. Houston, TX came in at the top with 20,614, Dallas-Fort Worth, TX had 19,744, Phoenix, AR reported 13,561, Atlanta, GA topped at 11,828, Austin, TX had 9,526, Charlotte, NC rose to 8,289, Tampa, FL had 7,770, Orlando, FL came in at 6,728, Nashville, TN reported 6,658 and Arlington, VA was last at 6,458.

Homebuyers are still flooding the market. Many desire to move away from the cities and urban areas because of the coronavirus. The suburbs and low populated areas are now the hotspots around the country.

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