Building permits in the United States rose 5.0 percent from the previous month to a seasonally adjusted annual rate of 1,328 thousand in November 2018, compared to market expectations of a 0.4 percent fall. It is the highest reading in seven months. Single-family authorizations increased 0.1 percent to 848 thousand and multi-family permits jumped 14.8 percent to 480 thousand. Across regions, permits went up in the South (10.5 percent to 708 thousand) and the West (1.6 percent to 323 thousand) while in the Northeast permits were unchanged (at 120 thousand) and in the Midwest dropped (-4.8 percent to 177 thousand). Building Permits in the United States averaged 1355.74 Thousand from 1960 until 2018, reaching an all time high of 2419 Thousand in December of 1972 and a record low of 513 Thousand in March of 2009.
Building Permits in the United States is expected to be 1230.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Building Permits in the United States to stand at 1240.81 in 12 months time. In the long-term, the United States Building Permits is projected to trend around 1315.00 Thousand in 2020, according to our econometric models.