US Building Permits Revised Higher

Building permits in the United States fell by 4% to a seasonally adjusted annualized rate of 1.422 million in April 2025, revised upward from the preliminary estimate of 1.412 million.

Despite the revision, this remains the lowest level in eleven months and the largest decline since March 2024, as higher mortgage rates and tariffs on imported materials continued to dampen demand.

Single-family permits decreased by 5% to 923 thousand, the lowest in nearly two years, while permits for buildings with five or more units dropped by 2.9% to an annualized rate of 438 thousand.

Regionally, permits declined in the Midwest (-7.2% to 194 thousand) and the South (-8.6% to 762 thousand), but increased in the Northeast (14.3% to 136 thousand) and the West (3.4% to 330 thousand).