Building permits in the United States fell by 3.7% to a seasonally adjusted annualized rate of 1.312 million in August 2025, the lowest since May 2020 and below market expectations of 1.37 million. Single-family permits decreased by 2.2% to an annualized rate of 856 thousand, while permits for buildings with five or more units dropped by 6.7% to 403 thousand. Regionally, permits declined in the Northeast (-3.2% to 121 thousand), the Midwest (-9.5% to 200 thousand), and in the South (-6.9% to 691 thousand), but increased in the West (9.5% to 300 thousand).