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March 18, 2025US HOUSING STARTS AND BUILDING PERMITS, FEBRUARY 2025 Month over month (February vs January 2025, seasonally adjusted annualized rates)
Compared to the previous month, US housing starts were up 11.2% to a seasonally adjusted annualized rate of 1,501,000 units. There was growth in multi-unit dwelling starts (10.7%) and in single unit starts (11.4%).
The number of residential building permits edged down 1.2% to a seasonally adjusted annualized rate of 1,456,000 units. Permits were slightly down for single units (-0.2%), while multiple unit permits declined 3.1%.
Year over year (February 2025 vs February 2024, seasonally adjusted annualized rates)
Compared to the same month last year, US housing starts were down 2.9%, with declines in single unit starts (-2.3%) and in multi-unit starts (-4.6%).
Residential building permits were down 6.8% year-over-year, with decreases in single units (-3.4%) and for permits in multi-unit structures (-13.4%).
Note: multi-unit refers to structures with 2-4 units as well as structures were more than 5 units.
Source: US Census Bureau New Residential Construction
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