Single-Family Permits Up in November 2024
The total number of single-family permits issued year-to-date (YTD) nationwide reached 912,910 over the first eleven months of 2024. This is an increase of 8.2% over the November 2023 level of 843,654, on a year-over-year (YoY) basis.
According to Eye On Housing, Year-to-date ending in November, single-family permits were up in all four regions. The range of permit increases spanned 11.5% in the Midwest to 6.3% in the South. The West was up by 11.4% and the Northeast was up by 9.4% in single-family permits during this time. For multifamily permits, three out of the four regions posted declines. The Northeast, driven by New York City’s MSA, was the only region to post an increase and was up by 32.6%. Meanwhile, the West posted a decline of 29.7%, the South declined by 19.6%, and the Midwest declined by 3.1%.
Between November 2024 YTD and November 2023 YTD, 44 states posted an increase in single-family permits. The range of increases spanned 31.4% in Montana to 2.6% in Missouri. The remining six states and the District of Columbia reported declines in single-family permits. The ten states issuing the highest number of single-family permits combined accounted for 62.9% of the total single-family permits issued. Texas, the state with the highest number of single-family permits, issued 146,843 permits over the first eleven months of 2024, which is an increase of 8.8% compared to the same period last year. The second highest state, Florida, was down by 0.3%, while the third highest, North Carolina, posted an increase of 7.0%.
