Construction Weakens: U.S. housing starts, permits slide in May

Posted on June 20, 2025   |  

Privately owned housing starts in May were at a seasonally adjusted annual rate (SAAR) of 1,256,000, down 9.8% from April and 4.6% lower than May 2024.

Single-family housing starts rose slightly to 924,000, a 0.4% increase from April’s revised figure.

Multifamily starts (buildings with five or more units) totaled 316,000.

Building permits declined to an SAAR of 1,393,000, marking a 2.0% drop from April and 1.0% lower than May 2024.

Single-family permits fell 2.7% to 898,000, down from April’s 923,000.

Permits for buildings with five or more units were recorded at 444,000.

Housing completions reached a SAAR of 1,526,000, up 5.4% from April but 2.2% below last May’s rate.

Single-family completions jumped 8.1% to 1,027,000, while completions for five-plus unit buildings were 487,000.