Housing permits fell in April, according to the National Association of Home Builders. This marks the fourth month in a row of depressed housing permits, a sign that
Nationwide permits to build single-family homes were down 4.7% through April compared to the same time last year, with builders receiving 320,259 permits so far in 2025. Multifamily permits were also down, with 154,668 issued in the first four months of 2025, a 1.5% drop from this point in 2024. The data comes from the United States Census Bureau's monthly Building Permits Survey.
There were wide regional variations across the country. Single-family home permits dropped in the Midwest, South, and West, with the latter two seeing the biggest drops as these regions experience
On the multifamily side, permits were up in 3 of the 4 regions, with the West seeing a jump of more than 16% year-on-year. The overall numbers were dragged down by a 37.7% drop in the Northeast, with the steepest drops coming New York, where permits were down 58.7%.
A number of factors are holding builders back, including high costs, tight credit, and strong housing inventory in many areas, according to Danushka Nanayakkara-Skillington, NAHB's assistant vice president for forecasting and analysis.
"When single-family home prices are high and mortgage rates are elevated, more people may opt for renting, increasing demand for multifamily properties," she said.
The Building Permits Survey is yet another data point showing that the housing market remains cool nationwide, leading to
