Single-family housing permits continued a downhill trend for the sixth month in a row in June, while an uptick in multifamily permits suggests a potentially stabilizing trend, though it’s important to note its volatility. The housing market’s mixed signals — weak single-family coupled with some resilience in multifamily — could mean continued drag on residential investment and the broader economy this year.

Over the first six months of 2025, the total number of single-family permits issued year to date (YTD) nationwide reached 485,935.On a year-over-year (YoY) basis, this is a 5.6% decline over the June 2024 level of 514,728. The continuous decline in single-family permits highlights persistently weak housing demand, tied to affordability challenges such as high mortgage rates.

Single-family permits were up YTD in one out of the four regions: The Midwest posted a small increase of 1.8%, while the Northeast was down 1.7%, the South decreased by 6.5%, and the West dropped by 8.1%. 

Top 10 Largest Single-Family Markets by Permits

Market	June 2025 (# of units YTD, NSA)	YTD % Change (compared to June 2024)
Houston-Pasadena-The Woodlands, TX	25,721	-8%
Dallas-Fort Worth-Arlington, TX	22,599	-10%
Phoenix-Mesa-Chandler, AZ	13,935	-13%
Atlanta-Sandy Springs-Roswell, GA	11,833	-14%
Charlotte-Concord-Gastonia, NC-SC	9,485	-5%
Orlando-Kissimmee-Sanford, FL	8,600	13%
Austin-Round Rock-San Marcos, TX	8,371	-12%
Nashville-Davidson-Murfreesboro-Franklin, TN	7,256	-6%
Tampa-St. Petersburg-Clearwater, FL	7,057	-13%
Los Angeles-Long Beach-Anaheim, CA	6,258	5%

Source: U.S. Census Bureau

For multifamily, the total number of permits issued YTD nationwide reached 244,812 — a 2.9% increase compared to the June 2024 level of 237,935. For multifamily permits, three out of the four regions posted increases: The Midwest was up by 22.4%, the West was up by 8%, and the South was up by 7.1%, Meanwhile, the Northeast declined steeply by 30%, driven a 40% decline in permits in the New York-Newark-Jersey City, NY-NJ MSA.

Top 10 Largest Multifamily Markets by Permits

Market	June 2025 (# of units YTD, NSA)	YTD % Change (compared to June 2024)
New York-Newark-Jersey City, NY-NJ	14,669	-40%
Dallas-Fort Worth-Arlington, TX	13,663	12%
Houston-Pasadena-The Woodlands, TX	9,066	72%
Miami-Fort Lauderdale-West Palm Beach, FL	8,941	24%
Orlando-Kissimmee-Sanford, FL	7,861	63%
Los Angeles-Long Beach-Anaheim, CA	6,624	-6%
Phoenix-Mesa-Chandler, AZ	6,429	-22%
Columbus, OH	6,313	50%
Atlanta-Sandy Springs-Roswell, GA	5,272	-28%
Tampa-St. Petersburg-Clearwater, FL	4,791	-7%

Source: U.S. Census Bureau

NAHB AVP of Forecasting and Analysis Danushka Nanayakkara-Skillington provides more state-level details in this Eye on Housing post.