Building permits in the United States fell 6.1 percent from a month earlier to a seasonally adjusted annual rate of 1,220 thousand in June 2019, while markets were expecting a 0.1 percent gain. Permits were at the lowest level since May 2017, as autorisations for the volatile multi-family housing segment declined 16.8 percent to 407 thousand while single-family permits rose 0.4 percent to 813 thousand. Across regions, permits dropped in the South (-10.4 percent to 618 thousand); West (-7.9 percent to 313 thousand) and Midwest (-0.6 percent to 172 thousand) while increased at the Northeast (21.9 percent to 117 thousand). Permits for May were revised to 1,299 thousand from 1,294 thousand. Building Permits in the United States averaged 1355.22 Thousand from 1960 until 2019, 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 1240.00 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 1100.00 in 12 months time. In the long-term, the United States Building Permits is projected to trend around 1200.00 Thousand in 2020, according to our econometric models.