Multifamily permits were robust across the country in February compared to last year, from a large gain in the West (22%) to a modest 5.4% increase in the Midwest.
Between February 2020 YTD and February 2021 YTD, 36 states and the District of Columbia recorded growth in multifamily permits, while 14 states recorded a decline. New Mexico saw a sharp rise (714.3%) in multifamily permits from 42 to 342, while Nebraska dropped 66.9% from 516 to 171. The 10 states issuing the highest number of multifamily permits combined accounted for 66.4% of the multifamily permits issued.
Here are top 10 metro areas that issued the highest number of multifamily permits:
|Metropolitan Statistical Area
||Multifamily Permits: February
(Units # YTD, NSA)
|New York-Newark-Jersey City, NY-NJ
|Austin-Round Rock, TX
|Los Angeles-Long Beach-Anaheim, CA
|Washington-Arlington-Alexandria, DC- VA-MD-WV
|Dallas-Fort Worth-Arlington, TX
|Minneapolis-St. Paul-Bloomington, MN-WI
|Houston-The Woodlands-Sugar Land, TX
Danushka Nanayakkara-Skillington, NAHB assistant vice president for forecasting and analysis, provides more in this Eye on Housing post