Year-to-date US apartment permits as of October 2009 declined in all but eight states, according to the latest data released by the US Bureau of the Census. Six states posted yearly declines of over 70%.
Both New York and Arizona posted the largest yearly decline of 84% in year-to-date multifamily permits as of October 2009. Illinois, Colorado, Nebraska and Georgia complete the list of the six top states with fastest decelerating year-to-date apartment permit activity, with yearly declines of 77%, 75%, 74% and 71%.
The large states of California and Texas follow in the 7th and 8th position with high yearly declines of 69% and 68%, respectively. The large state of Florida registered the 11th largest yearly decline of 67%.
Alabama, Kansas and North Dakota registered the smallest yearly declines of 15%, 7% and 1%, respectively, in year-to-date apartment permits as of October 2009.
Utah, Alaska, Wyoming and District of Columbia registered the largest yearly growth in year-to-date multifamily permits as of October 2009, as they registered increases of 19%, 42%, 98% and 243%, respectively.
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