Data Released Shows November 2020 Gains in Single-Family Permits

The National Association of Home Builders' Eye on Housing reported that there was a 12.2% increase of single-family permits on a year-over-year basis from November 2019. The November 2020 number reached to 888,217 while the November 2019 level just hit 791,452.

The South had an increase of 14.4% single-family permits which was the highest in all four regions. The other three regions were as follows, Midwest had an 11.7% increase, the West had an 8.5% increase and the Northeast had the lowest at 8%.

Delving even more into the data, 45 states saw an increase in single-family permits while 5 states and the District of Columbia saw a decline. The highest record was Vermont with a 37.8% increase while the District of Columbia saw the lowest at a decline of 19.6%. The ten highest states issuing the highest number of single-family permits were Vermont, Maine, New Hampshire, South Dakota, Delaware, Nebraska, Arizona, Missouri, Utah, and Texas. These states totaled 61.3% of the country's total single-family permits issued.

At the local level, below are the top 10 metro areas that issued the highest number of single-family permits.

Metropolitan Statistical Area	Single-family Permits: Nov (Units #YTD, NSA)
Houston-The Woodlands-Sugar Land, TX	43,458
Dallas-Fort Worth-Arlington, TX	39,492
Phoenix-Mesa-Scottsdale, AZ	28,376
Atlanta-Sandy Springs-Roswell, GA	25,559
Austin-Round Rock, TX	19,375
Charlotte-Concord-Gastonia, NC-SC	16,399
Tampa-St. Petersburg-Clearwater, FL	14,629
Orlando-Kissimmee-Sanford, FL	14,169
Nashville-Davidson-Murfreesboro-Franklin, TN	12,759
Washington-Arlington-Alexandria, DC-VA-MD-WV	12,254

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Single-Family Homes in the Greater New Orleans Area

New home starts for single-family homes in the Greater New Orleans area are on the rise, according to Jon Luther with The Home Builders Association of Greater New Orleans.  New construction starts were at 1.21 million last month, and that included single-family home starts of 600,000 – 700,000.  Between commercial building conversions and new construction, apartments are leading the race on new construction in New Orleans simply because the opportunity to build new homes is more limited within the city limits because of the lack of land to build.  However, even if builders cannot start and build out full-scale, new home developments, there is plenty of new construction going on in the city

in the form of tearing down blighted housing and even taking an existing home “back to the studs” and starting over again as a complete rebuild.

“Anytime you see 600,000 to 700,000 new (single-family) starts, home builders are going to be pretty damn happy,” Luther said. “They’re the best numbers we’ve seen in about 10 years.”
According to Luther, the best chance that New Orleans has of starting and building a large scale development would be to utilize the 5,000 acres of land near the Avondale shipyard.  Officials in Jefferson Parish have had several meetings about rezoning this property which is owned by several different owners.  If they were to release the land for building purposes, New Orleans would be able to develop and build either a Traditional Neighborhood Development (TND) or similar master planned community on this property.

Another obstacle for providing new homes for home buyers on the Southshore in New Orleans is that it is difficult for builders to provide housing for first-time home buyers.  According to Luther, the appraisal system in New Orleans recently went through an overhaul to ensure that appraisers knew how to appraise a new home for sale in New Orleans because the values given during appraisals were losing local builders a lot out of their profit margins.  Also, with the recent concessions by the

Department of Housing and Urban  Development in lowering the down payments on FHA loans for first time home buyers, there is now a possibility of Millenials being able to move out of apartment living in owning their own home – as long as affordable housing can be built in New Orleans.

If you are interested in living close to New Orleans but not having to “pay for it” with higher taxes, higher utilities, and city rents, you should consider moving to The Parks of Plaquemines, a masterplanned subdivision located just 10 miles from the Central Business District in New Orleans, across the Intercoastal Bridge.  With a convenient location, safer neighborhood proximity, and a little bit more lot space on which to play, The Parks of Plaquemines offers lots for sale and homes for sale at competitive new home pricing.  Contact Us at 504-364-2350 or E-mail Info@TheParksLifestyle.comInfo@TheParksLifestyle.com for more information.

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