Residential Building Permits Summary
According to the latest data from the US Bureau of the Census on housing units authorized by building permits, New Jersey had 2,564 units approved for construction in May. This is 450 less than the 3,014 issued in May 2013. The decrease was the result of fewer approvals for multi-family units (-492 units or -23.9%). During this time, authorizations of single-family residences increased slightly (+42 or +4.4%).
Over the month, the number of residential units authorized for construction rose by 819 units or 46.9 percent compared with April’s revised total of 1,745. The increase took place because more units in multi-family structures were approved in May, although permitting for single-family structures remained nearly unchanged. Compared to April, permitting for multi-family units rose by 820 units or 110.4 percent and approvals for single-family houses declined by one unit. The number of multi-family units often varies widely from month-to-month because they are often built in large batches for the rental market.
Bergen County led the state with the most issuances of building permits with a total of 411. Of these, 321 were for units in multi-family structures and 90 were for single-family houses. The municipalities with the most approvals were Englewood (128 units) and Garfield (100 units). In Englewood, 127 of the units authorized were in multi-family structures and one was a single-family house. All the units approved in Garfield were in multi-family structures.
In second place among the state’s 21 counties was Camden, where 394 units were authorized, including 363 multi-family units and 31 single-family houses. Camden led the county’s municipalities with 266 issuances, including 264 multi-family units and 2 single-family structures.
The third-ranking county was Ocean with a total of 269 units, including 231 single-family houses and 38 units of multi-family housing. Lakewood Township led the county’s municipalities with a total of 94 units that included 58 single-family houses and 36 multi-family units.
Atlantic County was in fourth place with 187 units, including 147 units in multi-family structures and 40 single-family houses. Approvals were concentrated in Pleasantville with a total of 145 units, all in multi-family structures. Hudson County ranked fifth with 179 units including 162 multi-family units and 17 single-family houses. Secaucus led the county’s municipalities (58 units), followed by Jersey City (42 units) and Hoboken (39 units). Of the units approved for Secaucus, 56 were in multi-family housing and two were single family houses. In Jersey City, 29 multi-family units and 13 single-family houses were authorized. All of Hoboken’s proposed housing was multi-family.
Nationally, the issuance of building permits on a not seasonally adjusted basis declined by 2,463 or 2.6 percent over the month from 94,689 in April 2014 to 92,226 in May 2014. In March, 83,719 units were approved. Across the United States, building permits were down over the year by 2,633 or 2.8 percent from May 2013. For the month of May 2014, single-family houses accounted for 64.1 percent of the units authorized, while 35.9 percent were multi-family.
New Jersey’s total of 10,741 units authorized through May 2014 was up by 1,525 units or 16.5 percent compared to the May 2013 total of 9,216. The year-to-date total reflects homebuilding in the northern part of the state as two counties (Hudson and Bergen) accounted for 31.8 percent of the statewide total. Hudson County tops the list with 1,711 permit issues of which 1,588 were for multi-family units and 123 were for single-family units. Bergen County ranked second, with a total of 1,701 units, of which 1,360 were multi-family and 341 were single-family. Bergen County’s Englewood was the municipality that ranked first in the state with 535 units, including 534 in multi-family structures and one single-family house. In second place was Weehawken Township in Hudson County with 419 units, all in multi-family housing. Through May 2014, 6,286 multi-family units were authorized (58.5%) in the state. The remaining 4,455 units were single-family structures (41.5%).
Detailed residential building permit data for New Jersey, its counties, as well as all 565 municipalities are available from the New Jersey Department of Labor and Workforce Development on the Internet (http://lwd.dol.state.nj.us/labor/lpa/LMI_index.html).