Permits for single-family homes grew across all regions in the second quarter, according to the National Association of Home Builders’ Home Building Geography Index.
Single-family permits grew 9.16% from the first quarter of 2024 to the second quarter.
Five of the seven market sizes the HBGI tracks reported double-digit gains in the second quarter, with small metro core counties reporting the largest growth.
Small metro core counties and large metro suburban counties reported the highest second-quarter gains with 28.9% and 25.0% increased in single-family permits.
Micro counties and non-metro/micro counties reported the smallest gains of 6.4% and 4.3%, respectively.
“Despite the elevated interest rate environment, single-family construction continues to move along at a better pace than 2023 and has been led by a rebound in construction activity in high density areas,” NAHB Chairman Carl Harris said in a statement.
The HBGI is a quarterly measurement of building conditions across the country, using county-level information about single- and multifamily permits to gauge housing construction growth in urban and rural areas.
Read the full report here.
