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September 17, 2025US HOUSING STARTS AND BUILDING PERMITS, AUGUST 2025 Month over month (August 2025 vs July 2025, seasonally adjusted annualized rates)

Compared to the previous month, US housing starts were down 8.5% to a seasonally adjusted annualized rate of 1,307,000 units. There were decreases in single unit starts (-7.0%) and decreases in multi-unit dwelling starts (-11.7%).
The number of residential building permits were down 3.7% to a seasonally adjusted annualized rate of 1,312,000 units. Permits were down for single units (-2.2%), while multiple unit permits were down (-6.4%).

Year over year ( August 2025 vs August 2024)
Compared to the same month last year, US housing starts were down (6.0%), with decreases in single unit starts (-11.7%) and increases in multi-unit starts (+8.9%).
Residential building permits were down (-11.1%) year-over-year, with decreases in single units (-11.5%) and decreases for permits in multi-unit structures (-10.4%).
Year-to-date (January-August 2025 vs January-August 2024)
In the first eight months of 2025, US housing starts were up 0.7%, with declines in single unit starts (-4.8%) and increases in multi-unit starts (+16.5%).
Residential building permits were down 4.7% year-to-date, with decreases in both single units (-6.2%) and multi-unit structures (-1.9%).
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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