FX.co ★ US Building Permits Fall More than Expected

In April 2025, the United States witnessed a 4.7% decline in building permits, reaching a seasonally adjusted annual rate of 1.412 million, marking an eleven-month low and falling short of market forecasts of 1.45 million, according to preliminary estimates. This represents the most significant drop since March 2024, influenced by rising mortgage rates and tariffs on imported materials, which dampened demand. Permits for single-family homes decreased by 5.1% to 922,000, the lowest in nearly two years, while permits for structures with five or more units fell by 4.4% to an annualized rate of 431,000. Regionally, the Midwest (-8.1% to 192,000) and the South (-9.6% to 754,000) saw declines in permits, whereas the Northeast experienced an increase of 14.3% to 136,000, and the West saw a rise of 3.4% to 330,000.