The New Year Began With Strong Single-Family Permit Gains

The National Association of Home Builders Eye On Housing reports that January 2021 was a month to celebrate in the housing industry. Single-family permit gains saw a year-over-year 19.2% increase from January 2020. In January 2020 the level was reported at 70,386 and in January 2021 the level reached 83,921 year-to-date YTD.

All four regions saw increases. The Midwest saw an increase of 21.5%, right behind the Northeast with a 20.7% increase, the South 20.3% and the West came in last with a 15.1% increase. Sources feel that the Midwest saw the biggest increase due to the area’s more affordable housing.

Not all states saw a YTD increase from January 2020 to January 2021. The highest increase was in South Dakota going from 99 to 202 with a 104% increase. The biggest decline was seen in Montana from 171 in 2020 to 144 in 2021 making this a decline of 15.8%. The top 10 states with the highest numbers combined accounted for 64.1% of the total single-family permits issued.

Metropolitan Statistical Area Single-family Permits: Jan (Units #YTD, NSA)