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Analysis

Multifamily Permits Fall 16.8%

Some markets saw particularly significant declines.

Even though 8.3% more permits were granted for multifamily construction in August compared to July this year, viewing on an annual basis the rate of permitting dropped 16.8% in all U.S. census regions. That came even as multifamily deliveries spiked.

With a 42% plunge in annualized multifamily permitting, the West experienced the biggest drop in permits issued in August, according to an analysis by RealPage Analytics of new census data. It was followed by the Northeast with a 22.4% drop, and the Midwest with a 9.5% dip. The South slowed the least, falling by just 1.4% over the year.

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Philippa Maister

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