National News: U.S. Multifamily Permits Still on The Rise

NATIONAL NEWS:

U.S MULTIFAMILY PERMITS STILL ON THE RISE

Currently, U.S. Multifamily building permits have increased by more than 32% this year! A total of 57,207-unit permits have been issued across the United States as of August 2021. This is the highest set number of permits issued since June of 2015! U.S. census bureau data showed that 37 states announced a growth in multifamily permits issued, whereas 14 states as well as the District of Columbia recorded a decline in growth.

With that being said, New Mexico set the record high for this year so far by recording an increase of a whopping 231.4% in multifamily permits! New Mexico went from 520 to 1,723 permits issued. On the other hand, Connecticut had the greatest decline recorded at 45.7%, decreasing to 951 from 1,956 multifamily permits issued. Click here to view an interactive map presented by Costar.