Building Permits Fall 3.0% in April

In April, building permits were at a seasonally adjusted annual rate of 1.440 million, falling short of the forecasted rate of 1.480 million. This marks a 3.0% decrease from March and a 2.0% decline compared to one year ago.

Here is the opening of this month's report:

Privately‐owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,440,000. This is 3.0 percent below the revised March rate of 1,485,000 and is 2.0 percent below the April 2023 rate of 1,470,000. Single‐family authorizations in April were at a rate of 976,000; this is 0.8 percent below the revised March figure of 984,000. Authorizations of units in buildings with five units or more were at a rate of 408,000 in April.[link to report]