Building Permits Rise for First Time in 4 Months

In June, building permits rose for the first time in four months. In the latest report by the Census Bureau, building permits were at a seasonally adjusted annual rate of 1.446 million, exceeding the forecasted rate of 1.400 million. This marks a 3.4% increase from May and a 3.2% decline compared to one year ago.

Here is the opening of this month's report:

Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,446,000. This is 3.4 percent above the revised May rate of 1,399,000, but is 3.1 percent below the June 2023 rate of 1,493,000. Single-family authorizations in June were at a rate of 934,000; this is 2.3 percent below the revised May figure of 956,000. Authorizations of units in buildings with five units or more were at a rate of 460,000 in June