News

Building permits declined 3.7% in August and 11.1% over the year. Permits for single-family homes in August decreased 2.2% from July and 11.5% over the year. Meanwhile, permits for buildings with five or more units dropped 6.7% from July and 10.8% over the year.

In August, housing starts declined 8.5% from July and 6% from August 2024. Starts for single-family homes fell 7% from July and 11.7% over the year. Meanwhile, buildings with five or more units dropped 11% over the month but jumped 15.8% over the year.

Meanwhile, housing completions increased 8.4% over the month but decreased by the same percentage over the year. Single-family home completions gained 6.7% from July and 5.6% from August 2024. Completions for buildings with five or more units grew 10.8% over the month but plunged 28.7% from one year ago.