As of May, Combined Trailing 12-month permit levels, which includes both single family and multifamily permits, increased 20.9 percent. Despite generally increasing permit levels, total permits for 2019 were 34,576 or 49 percent below our previous market peak of 68,402 units in 2005. Given the current market, 2020 permits are expected to remain near, or slightly above, 2019’s permit amount. Current E/P Ratio is -2.85 due to the significant jobs loses associated with Covid lockdowns. The Employment-to-Permit Ratio (E/P) looks at how well supply is keeping up with demand.  Equilibrium = 1.2, meaning for every 1.2 jobs added, there is 1 permit issued.