Texas Metros Lead Red-Hot Single-Family Housing Market with 65,110 Permits YTD

摘要

The single-family housing market continues to be one of the strongest parts of the overall construction market in 2021, and the most recent data continues to fuel that surge in residential building. On a dollar basis, the U.S. Census Bureau says that through May 2021, there was $402.3 billion spent on residential construction, a +46.1% increase over May 2020. When measured by single-family building permits, the news is even better as the 1.13 million single family permits pulled year-to-date through May is up +50.6% over May 2020, according to U.S. Census Bureau data. Things get even more interesting when you analyze the single-family building permit basis by metropolitan statistical area (MSA), where 22 local metros in the 50 MSAs with the most building permits through May 2021 (see chart on page 2) are even enjoying even larger increases. At the top of the list with a +85.7% increase is the McAllen-Edinburg-Mission, TX MSA south of Corpus Christi, TX, near the Texas border with 1,966 single-family permits, followed by the Columbia, SC MSA (+74.5%) and 2,659 permits; the San Francisco-Oakland-Berkeley, CA MSA, (+71.7%) and 1,980 single-family permits; and the Sacramento-Roseville-Folsom, CA MSA (+71.2%) and 1,068 single-family permits.