Recently, Metrostudy’s chief economist Brad Hunter wrote about October’s housing starts, which were 11.0% below the September rate, and 1.8% below the October 2014 pace. Hunter attributed most of the large month-over-month drop to a “yo-yo effect in the apartment numbers.” Conversely, year-to-date single-family permits actually saw a 9% increase year-over-year in October, indicating that builders are optimistic about ongoing growth in the new home market in 2016.
Based off permits granted, which markets will have the biggest opportunity for new home construction in the coming months?
Using the Building Permits by States and Metro Areas report compiled by the National Association of Home Builders, we’ve highlighted 10 metro-level markets that
have seen the most single-family detached permits issued in the past year (ending in October), as
well as positive year-over-year permit growth. (Note: The Greater Houston area and Washington, D.C. metropolitan area
failed to make our list, because they have fewer permits issued year-over-year, despite the fact that they still outnumber most places in terms of
single family permits.)
