US Building Permits Rise More than Expected

US building permits increased 4.8% month-over-month to a seasonally adjusted annualized rate of 1.455 million in December 2025, slightly above the preliminary estimate of 1.448 million, revised figures showed. The reading marked the highest level since March 2025. The gain was driven by a 20% jump in permits for multifamily buildings with five or more units, which rose to 523,000, the strongest level since August 2023. In contrast, single-family permits declined 1.7% to 881,000. Regionally, permits rose sharply in the Northeast (+42.7% to 167,000), and increased in the Midwest (+6.6% to 210,000) and West (+10.7% to 362,000), while falling 4.1% in the South to 716,000. For 2025 as a whole, approximately 1.43 million permits were issued, down 3.5% compared with 2024.

US building permits rose 4.3% in December 2025 to a seasonally adjusted annualized rate of 1.448 million, above market expectations of 1.40 million. Permits for buildings with five or more units surged 18.1% to 515,000, while single-family permits fell 1.7% to 881,000. Regionally, permits rose in the Northeast (44.1% to 147,000), the Midwest (6.6% to 210,000), and the West (8% to 353,000), but fell in the South (-4.1% to 716,000). For the full year, an estimated 1,478,000 permits were issued in 2025, down 3.6% from 2024.

US building permits edged down 0.3% in October 2025 to a seasonally adjusted annualized rate of 1.411 million, broadly in line with the preliminary estimate of 1.412 million and slightly below September’s 1.415 million. Single-family permits fell 0.2% to 878,000, while permits for buildings with five or more units also declined 0.2% to 478,000. Regionally, permits dropped in the South (-3.6% to 729,000) and the Midwest (-2.5% to 198,000), remained unchanged in the Northeast (147,000), but surged 9.1% in the West to 337,000.