By Danushka Nanayakkara-Skillington | NAHB
Over the first five months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 363,327. On a year-over-year basis, this is an 8.0% increase over the May 2017 level of 336,410. The results from the SOC are similar, year-to-date single-family permits over the first five months of 2018 was, 363,700 which is 8.6% ahead of its level over the same period of 2017, 335,000*.
Year-to-date, across the country, single-family permits grew in all the regions except in the Northeast where it declined by 1.0% compared to May 2017 YTD. Out of the nine Northeastern states, only three, New Hampshire, New York, and Pennsylvania recorded an increase in single-family permit growth during this time while the other six states declined. Western region had the highest growth in single-family while South recorded the highest multifamily permits growth during the last 12 months.