Building permits in the United States surged 8.4 percent from a month earlier to a seasonally adjusted annual rate of 1,336 thousand in July 2019, while markets were expecting a smaller rise of 3.1 percent. It is the strongest gain in building permits since June 2017, as authorisations for the volatile multi-family housing segment jumped 21.8 percent to 498 thousand and single-family permits rose 1.8 percent to 838 thousand. Across regions, permits went up in the West (13.7 percent to 365 thousand); the South (10.7 percent to 685 thousand), but declined in the Midwest (-1.2 percent to 169 thousand) and the Northeast (-3.3 percent to 117 thousand). Permits for June were revised to 1,232 thousand from 1,220 thousand. Building Permits in the United States averaged 1355.21 Thousand from 1960 until 2019, reaching an all time high of 2419 Thousand in December of 1972 and a record low of 513 Thousand in March of 2009.
Building Permits in the United States is expected to be 1240.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Building Permits in the United States to stand at 1100.00 in 12 months time. In the long-term, the United States Building Permits is projected to trend around 1200.00 Thousand in 2020, according to our econometric models.