Building permits in the US, a proxy for future construction, tumbled 10% to an annualized rate of 1.517 million in August of 2022, well below market expectations of 1.61 million. It was the biggest drop since April 2020 and the lowest level since June 2020. Single-family authorizations dropped 3.5 percent to 899 thousand units, while approvals of units in buildings with five units or more declined 18.5 percent to 571 thousand. Permits fell in the Northeast (-15.2 percent to 139 thousand), the Midwest (-6.5 percent to 201 thousand), the South (-13.5 percent to 802 thousand) and the West (-1.1 percent to 375 thousand). source: U.S. Census Bureau
Building Permits in the United States averaged 1368.60 Thousand from 1960 until 2022, reaching an all time high of 2419 Thousand in December of 1972 and a record low of 513 Thousand in March of 2009. This page provides the latest reported value for - United States Building Permits - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Building Permits - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
Building Permits in the United States is expected to be 1700.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Building Permits is projected to trend around 1600.00 Thousand in 2023 and 1500.00 Thousand in 2024, according to our econometric models.