Permits for private homes in US hit 14-month high

The number rose 4.6 percent

New York /
Feb.February 16, 2017 11:10 AM

Permits filed in January for private homes across the U.S. soared to the highest level seen in 14 months, according to the latest data from the U.S. Department of Commerce.

The number of permits rose 4.6 percent to a seasonally adjusted annual rate of 1.285 million, the Wall Street Journal reported. Permits for multi-unit homes climbed 19.8 percent, while single-family permits dropped 2.7 percent.

Meanwhile, housing starts declined 2.6 percent nationwide. In the Northeast, the number of permits issued last month for privately-owned units rose 71.3 percent year-over-over.

An analysis by The Real Deal last month found that approved residential construction permits and new permit applications in New York City plunged in 2016. The city approved approximately 15,697 new units of housing across the five boroughs last year, a 70 percent drop from 2015’s 51,500 units. The number of permits surged in 2015 largely due to the pending expiration of 421a. [WSJ]  — Kathryn Brenzel

(To see the top Manhattan permit applications filed in 2016, click here)


Related Articles

arrow_forward_ios
The comedy club argues that if SNL can operate, then they should be allowed to operate too. (Getty)
Manhattan comedy club sues Cuomo over pandemic closures
Manhattan comedy club sues Cuomo over pandemic closures
(iStock)
These were Manhattan’s best office submarkets in Q4
These were Manhattan’s best office submarkets in Q4
(iStock/Illustration by Alexis Manrodt for The Real Deal)
Order up: Real estate investors line up to buy drive-throughs
Order up: Real estate investors line up to buy drive-throughs
Mayor Bill de Blasio (Getty, iStock)
NYC to revive $17B in public construction projects
NYC to revive $17B in public construction projects
Houston House at 298 East 2nd Street and Matt Lee (Houston House, LinkedIn)
Developer Matt Lee to auction off East Village condo
Developer Matt Lee to auction off East Village condo
(Getty)
Hotel stocks went bonkers in February
Hotel stocks went bonkers in February
Homebuilding is largely responsible for the increase in construction spending. (Getty / Photo Illustration for The Real Deal)
Construction spending hits new record in January
Construction spending hits new record in January
The person behind the prank website is still anonymous. (Getty)
Phony website falsely claims REBNY cancels rent
Phony website falsely claims REBNY cancels rent
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...