US housing supply is moving in the wrong direction:
New building permits for new homes declined -3.6% YoY, to 1.42 million in 2025, the lowest since 2019, according to the US Census. From the 2021 peak, permits have declined ~350,000, or -19%. New housing starts fell -0.6%
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US housing supply is moving in the wrong direction:
New building permits for new homes declined -3.6% YoY, to 1.42 million in 2025, the lowest since 2019, according to the US Census.
From the 2021 peak, permits have declined ~350,000, or -19%.
New housing starts fell -0.6%