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 2,015 units approved for construction in August. This is 547 units or 21.4 percent less than the 2,562 issued in August 2013. The over-the-year decline resulted from fewer authorizations of units in multi-family (-428 or -26.5%) and single family (-119 or -26.5%) structures. In August 2014, multi-family units accounted for 59.0% of approvals while 41.0 percent were single-family.
Over the month, the number of residential units authorized for construction fell by 1,158 units or 36.5% percent compared with July’s revised total of 3,173. The increase took place because fewer multi-family (-1,024 or -46.3%) and single-family (-134 or -13.9%) units were approved in August. 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 387, including 355 units in multi-family structures and 32 single-family houses. Approvals in the county were concentrated in Montclair Township (202) and Newark (100). All of the units proposed for Montclair Township were multi-family, while 96 multi-family units and four single-family houses were authorized in Newark.
In second place among the state’s 21 counties was Bergen, where 208 units were authorized, including 122 multi-family units and 86 single-family houses. Lyndhurst Township led the county’s 70 municipalities with 40 issuances, including 39 multi-family units and a single-family house.
The third-ranking county was Ocean with a total of 195 units including 189 single-family structures and six multi-family units. Leading the county’s municipalities in authorizations was Toms River Township, with a total of 60 units, all single-family housing. It was followed by Lakewood Township with a total of 24 units including 20 single-family houses and four units in multi-family structures.
Hudson County was in fourth place with 176 units, including 158 units in multi-family structures and 18 single-family houses. Leading the county’s municipalities in permit issuances was Secaucus with 59 units, of which 58 were multi-family and one was single-family. Burlington County ranked fifth with a total of 152 units including 118 units in multi-family structures and 34 single-family houses. Willingboro Township ranked first among the county’s municipalities (73 units), followed by Mount Holly Township (40 units). In Willingboro Township, authorizations included 72 units in multi-family structures and one single-family house. Mount Holly Township approved 36 multi-family units and four single-family houses.
Nationally, the issuance of building permits on a not seasonally adjusted basis was 87,166 in August 2014, a decrease of 10,462 units or 10.7 percent from the prior month. Across the United States, building permits were up over the year by 1,931 or 2.3 percent from August 2013. For the month of August 2014, single-family houses accounted for 63.1 percent of the units approved, while 36.9 percent were multi-family.
New Jersey’s total of 19,496 units authorized through August 2014 was up by 3,409 or 21.2 percent compared to the August 2013 total of 16,087. The year-to-date total reflects homebuilding in the northern part of the state as two counties (Hudson and Bergen) accounted for 29.2 percent of the statewide total. Hudson County tops the list with 3,225 permit issues of which 3,109 were multi-family and 116 were for single-family units. Bergen County ranked second, with a total of 2,463 units, of which 1,793 were multi-family and 670 were single-family. The top two municipalities in the state for permit issues are located in Hudson County. Jersey City was the municipality that ranked first in the state with 1,160 units, including 1,097 units in multi-family structures and 63 single-family houses. In second place was Secaucus with 554 units, including 547 multi-family units and seven single-family house. The third ranking municipality was Englewood in Bergen County, with a total of 537 units including 534 multi-family units and three single-family structures.
Across the United States, 689,750 units were authorized on a not seasonally adjusted basis year-to-date through August 2014. This represents a gain of 38,096 or 5.8 percent over the level of August 2013 (651,654). Through August 2014, 62.3 percent of the units authorized were single-family. The remaining 37.7 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).