Multifamily Permits Increase in February

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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 7,122
Austin-Round Rock, TX 5,307
Los Angeles-Long Beach-Anaheim, CA 3,884
Washington-Arlington-Alexandria, DC- VA-MD-WV 3,494
Dallas-Fort Worth-Arlington, TX 3,432
Seattle-Tacoma-Bellevue, WA 3,431
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 3,206
Phoenix-Mesa-Scottsdale, AZ 2,708
Minneapolis-St. Paul-Bloomington, MN-WI 2,698
Houston-The Woodlands-Sugar Land, TX 1,812
Danushka Nanayakkara-Skillington, NAHB assistant vice president for forecasting and analysis, provides more in this Eye on Housing post.

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