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 3,115 units approved for construction in July. This is 896 units or 40.4 percent more than the 2,219 issued in July 2013. The over-the-year increase was the result of increased authorizations of units in multi-family structures (+954 or 79.2 percent) which offset losses in approvals of single-family houses (-58 units or -5.7 percent).
Over the month, the number of residential units authorized for construction rose by 627 units or 25.2 percent compared with June’s revised total of 2,488. The increase took place because more multi-family (599 or 38.4%) and single-family (28 or 3.0%) units were approved in July. 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.
Hudson County led the state with the most issuances of building permits with a total of 965, all of which were for units in multi-family housing. The municipalities with the most approvals were Jersey City (770) and Hoboken (139).
In second place among the state’s 21 counties was Bergen, where 378 units were authorized, including 279 multi-family units and 99 single-family houses. Wood-ridge led the county’s 70 municipalities with 129 issuances, including 104 multi-family units and 25 single-family houses.
The third-ranking county was Ocean with a total of 236 units including 232 single-family structures and four multi-family units. Leading the county’s municipalities in authorizations was Toms River Township, with a total of 86 units, all single-family housing. It was followed by Lakewood Township with a total of 47 units including 43 single-family houses and four units in multi-family structures.
Essex County was in fourth place with 214 units, including 192 units in multi-family structures and 22 single-family houses. Leading the county’s municipalities in permit issuances was Newark with 87 units, all in multi-family housing. Morris County ranked fifth with a total of 192 units including 116 units in multi-family structures and 76 single-family houses. Morristown ranked first among the county’s municipalities (38 units), followed by Wharton (33 units) and Florham Park (32 units). In Morristown, all of the units authorized were multi-family. In Wharton, 32 multi-family units and one single-family house were approved and in Florham Park, 28 multi-family and four single-family units were proposed.
Nationally, the issuance of building permits on a not seasonally adjusted basis was 97,628 in July 2014, an increase of 5,323 units or 5.8 percent from the prior month. Across the United States, building permits were up over the year by 9,483 or 10.8 percent from July 2013. For the month of July 2014, single-family houses accounted for 61.6 percent of the units approved, while 38.4 percent were multi-family.
New Jersey’s total of 17,209 units authorized through July 2014 was up by 3,709 or 27.5 percent compared to the July 2013 total of 13,500. The year-to-date total reflects homebuilding in the northern part of the state as two counties (Hudson and Bergen) accounted for 31.4 percent of the statewide total. Hudson County tops the list with 3,087 permit issues of which 2,951 were multi-family and 136 were for single-family units. Bergen County ranked second, with a total of 2,313 units, of which 1,757 were multi-family and 556 were single-family. Jersey City in Hudson County was the municipality that ranked first in the state with 1,140 units, including 1,046 units in multi-family structures and 94 single-family houses. In second place was Bergen County’s Englewood with 535 units, including 534 multi-family units and one single-family house. The third ranking municipality was Secaucus in Bergen County, with a total of 501 units including 494 multi-family units and 7 single-family structures.
Across the United States, 603,951 units were authorized on a not seasonally adjusted basis year-to-date through July 2014. This represents a gain of 37,450 or 6.6 percent over the level of July 2013 (566,501). Through July 2014, 62.0 percent of the units authorized were single-family. The remaining 38 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).