Building Permits
Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,448,000. This is 4.3 percent above the revised November rate of 1,388,000, but is 2.2 percent below the December 2024 rate of 1,480,000. Single-family authorizations in December were at a rate of 881,000; this is 1.7 percent below the revised November figure of 896,000. Authorizations of units in buildings with five units or more were at a rate of 515,000 in December.

An estimated 1,425,200 housing units were authorized by building permits in 2025. This is 3.6 percent below the 2024 figure of 1,478,000.

Housing Starts
Privately-owned housing starts in December were at a seasonally adjusted annual rate of 1,404,000. This is 6.2 percent (±10.7 percent)* above the revised November estimate of 1,322,000, but is 7.3 percent (±14.0 percent)* below the December 2024 rate of 1,514,000. Single-family housing starts in December were at a rate of 981,000; this is 4.1 percent (±13.9 percent)* above the revised November figure of 942,000. The December rate for units in buildings with five units or more was 402,000.

An estimated 1,358,700 housing units were started in 2025. This is 0.6 percent (±3.2 percent)* below the 2024 figure of 1,367,100.

Housing Completions
Privately-owned housing completions in December were at a seasonally adjusted annual rate of 1,525,000. This is 2.3 percent (±11.8 percent)* above the revised November estimate of 1,490,000, but is 0.1 percent (±10.2 percent)* below the December 2024 rate of 1,527,000. Single-family housing completions in December were at a rate of 1,023,000; this is 0.1 percent (±13.8 percent)* below the revised November rate of 1,024,000. The December rate for units in buildings with five units or more was 483,000.

An estimated 1,497,800 housing units were completed in 2025. This is 7.9 percent (±4.5 percent) below the 2024 figure of 1,626,900.