In NJ, residential permits totaled 16,617 units for the first half of 2015, up 20.1% from the same period last year. The increase was driven exclusively by multi-family permits which were up 37.2% with 11,608 units. Meanwhile, single-family permits fell by 6.7% coming in at 5,009 units through June.
Nationally, total building permit activity rose 7.4% in June to a seasonally adjusted annual rate of 1,343,000 units. Permits are up 30% from this same time last year. Single-family building permits increased 0.9% from the previous month to a seasonally adjusted annual rate of 687,000 units while multi-family activity jumped 16.1% to 621,000 units.
Chart Source: NJBA Master Sponsor, Meyers Research, LLC.