Building permits in the US, a proxy for future construction, dropped 7% to an annualized rate of 1.695 million in May of 2022, the lowest level since September last year and well below forecasts of 1.785 million. Permits fell for a second time after staying above 1.8 million in the past five months. Single-family authorizations dropped 5.5% to 1.048 million and authorizations of units in buildings with five units or more fell 10% to 0.592 million. Building permits declined in all four regions: Northeast (-20.2%), West (-7.1%), Midwest (-7.6%) and South (-4.7%). source: U.S. Census Bureau
Building Permits in the United States averaged 1367.55 Thousand from 1960 until 2022, reaching an all time high of 2419 Thousand in December of 1972 and a record low of 513 Thousand in March of 2009. This page provides the latest reported value for - United States Building Permits - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Building Permits - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.
Building Permits in the United States is expected to be 1750.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Building Permits is projected to trend around 1600.00 Thousand in 2023 and 1500.00 Thousand in 2024, according to our econometric models.