Finding a new home in your budget can be hard in a tight housing market with elevated mortgage rates. Last year, new home construction permits for single-family dwellings declined by about 14% over the previous year. This continues a trend since the 1990s of U.S. housing starts per 1,000 households declining to half of what they were during the previous 30 years. Total housing starts fell 4.5% to 1.309 million annualized units in January and are now down 21.4% from a year ago.
A new report from Realtor.com identifies the top U.S. metro areas with the most new single-family home construction permits per capita in 2022, to arrive at the places with the most new homes slated to be built — relative to the local population.
