Construction of new homes in Montana is booming. The state had the highest annual growth rate nationally in February, with residential housing permits up 121%, reports the National Association of Home Builders.
Overall, single-family permits nationwide — an indicator of future construction — rose 3.5% year-over-year in February. Between February 2021 and February 2022, 28 states and the District of Columbia showed growth in single-family permits.
Meanwhile, 22 states posted declines in single-family permits each year in February. Pennsylvania saw the biggest drop at 26.7%.
At the metropolitan level, the following seven metropolitan areas recorded the highest overall number of single-family permits in February of each year:
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