|
Multifamily Permits
| (Seasonally
Adjusted in thousands) |
|
 |
| MOST RECENT
STATISTIC: |
145,000 |
| Multifamily (5+
units) |
127,000 |
| Multifamily (2-4
units) |
18,000 |
| Grade: |
F |
| PERIOD COVERED: |
Dec-09 |
| Date Released: |
01/20/10 |
| Next Released: |
02/17/10 |
|
|
|
Dec-09 |
Nov-09 |
Oct-09 |
Dec-08 |
Dec-07 |
Multifamily
5+ (000) |
127 |
95 |
86 |
174 |
350 |
| % Change |
-- |
33.7% |
47.7% |
(27.0%)% |
(63.7%) |
|
|
|
|
|
|
Multifamily
2-4 (000) |
18 |
25 |
16 |
20 |
57 |
| % Change |
-- |
(28.0%) |
12.5% |
(10.0%) |
(68.4%) |
|
|
|
|
|
|
| Total (000) |
653 |
589 |
551 |
564 |
1,1492 |
| % Change |
-- |
10.9% |
18.5% |
15.8% |
(43.2%) |
______________________________
Source:
U.S.
Census Bureau |
5 Busiest States - Not Seasonally
Adjusted)
|
Nov-09
|
Change from Last Year |
 |
| Texas
|
958
|
(50%)
|
| Florida
|
928
|
(22%)
|
| Virginia
|
668
|
+457%
|
| New York
|
614
|
-18%
|
| California
|
470
|
-80%
|
|
|
Analysis for the
Housing Market
By:Jonas Adams
In December the number of multifamily building permits issued (5+ units) accelarated past the level seen in November, jumping to 127,000 units permitted. This pace put activity in December 34% above the November rate and 48% above the October level. On a year-over-year basis, multifamily permit issuance was down 27% from December 2008 and 64% below the December 2007 figure.
Permit issuance for buildings with 2 to 4 units was at 18,000 units permitted during the twelve month period ending in December, a 28% drop from the level seen last month, but just 10% below the level seen last December.
State level data, which lag one month behind the national figure, indicate that in November multifamily permit issuance decreased by 50% in Texas(the top state for multifamily permit activity during the month) from the level seen during the same month last year. At the bottom of the list, permit activity in the California in this segment was 80% below the year ago level. Multifamily permits in Florida were down 22%, up 457% in Virginia, and 18% lower in Kansas from the year ago level during the month of November.
Definitions and
Importance for the Housing Market
By:Jonas Adams
Data for U.S., regions, states and all metropolitan areas is from the U.S. Department of Commerce, Census Bureau, Construction Statistics Division. The year-to-date and annual data incorporate minor revisions of the corresponding quarterly figures. In most cases, these revisions are less than 2%. Except for the first quarter, which is a year-to-date compilation, the quarterly permit figures represent the sum of the monthly data in each quarter. Thus, some inconsistencies between quarterly and year-to-date figures may appear because Census Bureau revisions do not encompass monthly reports. Permits do not include conversions from non-residential uses and manufactured housing placements.
For more information, see:
http://www.census.gov/const/
C40/Table1/table1a.txt
|
