Housing Starts & Building Permits
Latest data: August 1, 2026 · Updated automatically from official sources
Building permits are issued before ground is broken, so they lead housing starts by weeks to months. Comparing the two shows whether builders are following through on approvals or holding back as financing conditions change. Both are reported monthly in the Census Bureau’s New Residential Construction release.
Latest readings
- Housing Starts was 1.28M as of August 2026, down 2.6% from the prior reading and down 1.2% from a year earlier.
- Building Permits was 1.39M as of August 2026, down 2.7% from the prior reading and up 3.5% from a year earlier.
- Starts was down 1.2% year over year in August 2026, compared with -8.6% in the prior period and -7.4% a year earlier.
Starts vs. permits, last 15 years
Housing starts, full history
Recent readings
| Period | Starts (thous., SAAR) | Change | Permits (thous., SAAR) |
|---|---|---|---|
| August 2026 | 1.28M | -2.6% | 1.39M |
| July 2026 | 1.31M | -9.0% | 1.43M |
| June 2026 | 1.44M | +21.7% | 1.37M |
| May 2026 | 1.18M | -16.4% | 1.41M |
| April 2026 | 1.41M | -7.1% | 1.42M |
| March 2026 | 1.52M | +13.1% | 1.36M |
| February 2026 | 1.35M | -2.8% | 1.54M |
| January 2026 | 1.39M | +0.5% | 1.39M |
| December 2025 | 1.38M | +4.5% | 1.48M |
| November 2025 | 1.32M | +3.6% | 1.41M |
| October 2025 | 1.27M | -3.5% | 1.42M |
| September 2025 | 1.32M | +2.2% | 1.44M |
| August 2025 | 1.29M | — | 1.35M |
Key statistics
| Indicator | Latest | Year ago | 5-yr avg | Long-run avg | Record high | Record low | Data since |
|---|---|---|---|---|---|---|---|
| Housing Starts (ann.) | 1.28M | 1.29M | 1.43M | 1.43M | 2.49M (Jan 1972) | 478K (Apr 2009) | 1959 |
| Building Permits (ann.) | 1.39M | 1.35M | 1.53M | 1.37M | 2.42M (Dec 1972) | 513K (Mar 2009) | 1960 |
| Starts (YoY) | -1.2% | -7.4% | -2.2% | 2.1% | 96.2% (Feb 1983) | -54.8% (Jan 2009) | 1960 |
Reading the numbers
Both series are expressed as a seasonally adjusted annual rate (SAAR): the number of units that would be started or permitted over a full year if the month’s pace continued. A reading of 1,400 means a pace of 1.4 million homes a year. Single-month changes are noisy — the Census Bureau’s own confidence intervals for monthly starts are often wider than ±10% — so the three- to six-month trend is more informative than any one release.
The totals combine single-family homes and buildings with five or more units. Apartment construction is lumpier and more sensitive to financing conditions for developers, while single-family activity tracks buyer demand more closely.
Why economists watch permits
Because a permit is required before most construction can begin, permits are one of the earliest available signals of future building activity, employment in construction, and demand for materials and furnishings. Building permits are one of the ten components of the Conference Board’s Leading Economic Index. Sustained declines in permits have preceded nearly every U.S. recession since the 1960s.
Release schedule
The Census Bureau and the Department of Housing and Urban Development publish new residential construction data around the 12th business day of each month, covering the previous month. Recent months are revised in the following two releases.
Frequently asked questions
What is the difference between a housing start and a permit?
A permit is official authorization from a local government to build. A start is recorded when excavation for the foundation begins. Most permitted units are started within a few months, though some are delayed or never built.
How many homes does the U.S. build each year?
The annualized starts figure in the summary above shows the current pace. Over the long run, U.S. builders have started roughly 1.0 to 2.0 million homes a year, with peaks in the early 1970s and mid-2000s.
Related data
Data are retrieved automatically from the original statistical agencies (via the Federal Reserve Bank of St. Louis FRED database) and may be revised by the source. Year-over-year changes are calculated by econHQ. See About & methodology for details.