US Building Permits Higher than Expected
In March 2025, building permits in the United States saw a 1.6% increase, reaching a seasonally adjusted annualized rate of 1.482 million, surpassing market predictions of 1.45 million, as per preliminary estimates. Permits for multi-family buildings, comprising five or more units, surged by 10.1% to an annualized rate of 445,000. In contrast, single-family home permits experienced a 2% decline, dropping to 978,000. When analyzing regional data, the Northeast reported a 4.3% increase to 121,000 permits, the South saw a 3% rise to 830,000, and the West experienced a 5.8% climb to 312,000. However, the Midwest witnessed a significant reduction, with permits falling by 9.5% to 219,000.
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