A report from the city of Pearland shows a decrease in permits for single-family homes in the first quarter of fiscal year 2022-23.

The quarterly report, which encompasses Oct. 1-Dec. 31, 2022, states 38 single-family homes were permitted in this period. This represents a 34% decrease from the previous quarter—the fourth quarter of FY 2021-22—and an 81% decrease from the previous year, according to the report, which also states, “Residential new construction has steadily declined since the spring.”

The report states this decline is the worst decline in single-family starts since 2011, and attributes the drop to elevated construction costs and an increase in the Federal Funds Rate.