Meanwhile, housing starts were actually up 5.9% in July, but filings for housing permits fell 13% to 1,442,000.
In the first half of this year, new housing permits plummeted 17.5% compared to the first half of 2022.
"In the first half of 2022, an impressive 30 states saw year-over-year increases in their numbers of permits.
All told, of the 384 metro areas that Point2 tracks data from, a mere 90 saw the number of housing permits increase year over year.
Among those 384 metro areas, 56 fall under the large category, meaning they have populations of 1 million or more.
Persons:
Louis Fed, Point2, Andra Hopulele, Hopulele
Organizations:
National Association of Realtors
Locations:
West