Building permits in the United States fell 0.6 percent from the previous month to a seasonally adjusted annual rate of 1,263 thousand in October 2018, while markets were expecting a bigger 0.8 percent drop. Single-family authorizations declined 0.6 percent to 849 thousand and multi-family permits went down 0.5 percent to 414 thousand. Across regions, permits fell in the South (-2.4 percent to 648 thousand) and West (-7.9 percent to 313 thousand), but went up in the Midwest (9.4 percent to 187 thousand) and Northeast (21.1 percent to 115 thousand). Building Permits in the United States averaged 1355.77 Thousand from 1960 until 2018, reaching an all time high of 2419 Thousand in December of 1972 and a record low of 513 Thousand in March of 2009.
Building Permits in the United States is expected to be 1230.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Building Permits in the United States to stand at 1240.81 in 12 months time. In the long-term, the United States Building Permits is projected to trend around 1315.00 Thousand in 2020, according to our econometric models.