Strong single-family permit gains in February

By Danushka Nanayakkara-Skillington | Eye On Housing

Over the first two months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 164,901. On a year-over-year (YoY) basis, this is a 16.6% increase over the February 2020 level of 141,467.

Year-to-date ending in February, single-family permits showed increases in all four regions. The relatively more affordable Midwest reported the strongest increase of 24.0%, followed by the Northeast (+20.1%), the South (+16.2%), and the West (13.6%). Multifamily permits were robust across the country in February compared to last year; the West (+22.0%), South (+18.4%), Northeast (+17.5%) and the Midwest a modest 5.4% increase.

Between February 2020 YTD and February 2021 YTD, 44 states and the District of Columbia saw growth in single-family permits issued, while six states registered a decline. The District Of Columbia recorded the highest growth rate during this time at 308.3% from 12 to 49, while single-family permits in Vermont declined by 17.7%, from 124 in 2020 to 102 in 2021. The 10 states issuing the highest number of single-family permits combined accounted for 63.8% of the total single-family permits issued.

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