While multifamily permitting was a big driver of all residential sector activity most of the year, the summer has seen a bit of a slowdown, according to research firm Axiometrics.
In June, the annualized rate of multifamily permit activity dropped by double-digit percentage for the second straight month. June saw 301,000 units permitted, 17.1 percent below May’s 363,000.
Still, cranes are flying over the nation’s most dynamic metros, with the following 10 leading the way in permitting activity over the last year.
The Top 10 Metros for Multifamily Permitting (in units, from june 2013 to june 2014)
1. New York - 25,228 2. Houston - 19,864
3. Dallas - 17,834
4. Los Angeles - 11,208
5. Seattle - 11,208
6. Austin - 9,829
7. Washington, D.C. - 9,035
8. Atlanta - 8,912
9. Phoenix - 7,125
10. Denver - 6,985
