Building Permits
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The U.S. Census Bureau and the Department of Housing and Urban Development (HUD) jointly release a monthly report on new residential construction, which includes data on building permits. This data is a key economic indicator, often used to gauge the health of the housing market.
As of the latest release for June 2025:
| • | Total Building Permits: The number of privately-owned housing units authorized by building permits was at a seasonally adjusted annual rate of 1,397,000. This represents a slight increase of 0.2% from the revised May rate of 1,394,000, but a 4.4% decrease from the June 2024 rate. |
| • | Single-Family Units: Permits for single-family housing were at a rate of 866,000, which is a 3.7% decrease from the revised May figure. |
| • | Units in Buildings with 5 or More Units: Permits for these larger residential buildings were at a rate of 478,000 in June. |
It is important to note that these figures are reported as a "seasonally adjusted annual rate," which means the monthly data has been adjusted to account for seasonal variations and is then multiplied by 12 to show what the total would be if that month's rate were to continue for a full year.
What are building permits? Building permits are legal authorizations issued by a local government before construction on a new or existing building can begin. The number of permits issued is a leading indicator of future construction activity and housing supply.