Single-Family Permits Increased by 26% During March

Single-family housing supply is growing, with recent data showing an increase in housing permits of nearly 26% year-over-year, the National Association of Home Builders’ Eye On Housing reports. During the first three months of 2024, the number of single-family permits issued year-to-date reached 241,311 compared with 191,695 during the same period last year.

While all four U.S. regions showed an increase in the number of permits, the range of permit increase varied from 38% in the West to 12.5% in the Northeast. State by state, the number of permits also varied, with 47 states recording an increase in permits issued, and just three states—Massachusetts, Rhode Island, Alaska—and Washington, D.C., seeing declines.

The ten states issuing the highest number of single-family permits combined accounted for 65.5% of the total single-family permits issued. Texas, the state with the highest number of single-family permits, issued 40,651 permits over the first three months of 2024, which is an increase of 34.7% compared to the same period last year. The succeeding highest state, Florida, was up by 15.1% while the next highest, North Carolina, posted an increase of 15.5%.

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