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 2,263 units approved for construction in June. This is 185 more than the 2,078 issued in June 2013. The gain was the result of more approvals for multi-family units (210 units or 18.5%). During this time, authorizations of single-family residences decreased slightly (-25 or -2.7%).
Over the month, the number of residential units authorized for construction fell by 740 units or -24.6 percent compared with May’s revised total of 3,003. The decline took place because fewer multi-family (-666 or 33.1%) and single-family (-74 or -7.5%) units were approved in June. 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.
Essex County led the state with the most issuances of building permits with a total of 426. Of these, 396 were for units in multi-family structures and 30 were for single-family houses. The municipalities with the most approvals were South Orange Village Township (215 units) and Newark (116 units). All of these units were in multi-family housing.
In second place among the state’s 21 counties was Bergen, where 249 units were authorized, including 153 multi-family units and 96 single-family houses. Lyndhurst Township led the county’s 70 municipalities with 50 issuances, including 49 multi-family units and one single-family structure.
The third-ranking county was Middlesex with a total of 237 units including 164 multi-family units and 73 single-family houses. Authorizations were concentrated in New Brunswick, where 139 units were approved, all in multi-family housing.
Ocean County was in fourth place with 211 units, including 199 single-family houses and 12 units in multi-family structures. Leading the county’s municipalities in permit issuances were Toms River Township with 54 units and Stafford Township with 27 units. All of the units approved for these municipalities were single-family houses. Hudson County ranked fifth with 199 units including 184 multi-family units and 15 single-family houses. Secaucus led the county’s municipalities (78 units) followed by Hoboken (50 units). In Secaucus, 76 multi-family units and 2 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 remained nearly flat from May 2014 to June 2014. In June, 92,305 units were authorized, nearly the same as May’s level (92,226). Across the United States, building permits were up over the year by 8,380 or 10.0 percent from June 2013. For the month of June 2014, single-family houses accounted for 66.2 percent of the units approved, while 33.8 percent were multi-family.
New Jersey’s total of 13,832 units authorized through June 2014 was up by 2,544 or 22.5 percent compared to the June 2014 total of 11,288. The year-to-date total reflects homebuilding in the northern part of the state as two counties (Hudson and Bergen) accounted for 29.6 percent of the statewide total. Hudson County tops the list with 2,148 permit issues of which 2,012 were multi-family and 136 were for single-family units. Bergen County ranked second, with a total of 1,952 units, of which 1,513 were multi-family and 439 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. Hudson County hosts the municipalities in second and third place. In Secaucus, 499 units were authorized, including 492 units in multi-family structures and seven single-family houses. In Weehawken Township, 446 units were approved, all in multi-family housing.
Across the United States, 505,441 units were authorized on a seasonally unadjusted basis year-to-date through June 2014. This represents a gain of 27,997 or 5.9 percent over the level of June 2013 (477,444). Through June 2014, 62.0 percent of the units authorized were single-family. The remaining 38.0 percent were multi-family.
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).