Total housing starts for 2025 were 1.36 million, down 0.6% from the 1.37 million total in 2024. Single-family starts in 2025 totaled 943,000, down 6.9% from the previous year. Multifamily starts ended the year up 17.4% from 2024.
“Single-family home building dipped in 2025 because of ongoing affordability challenges, fueled by high housing price-to-income ratios, and elevated financing and construction costs,” said Buddy Hughes, a homebuilder and developer from Lexington, N.C. “NAHB expects single-family starts will move slightly higher this year, as mortgage rates are expected to moderate.”
Jing Fu, NAHB Senior Director of Forecasting and Analysis, added that, “Multifamily construction was down in high-density markets but up in the low-rise sector. Multifamily starts are anticipated to fall 5% in 2026 to an annual pace of 392,000 units and decline an additional 6% in 2027 to a 367,000 rate, leveling off near pre-pandemic levels.”
Looking at regional housing starts for 2025, combined single-family and multifamily starts were 8.7% higher in the Northeast, 7.2% higher in the Midwest, 4% lower in the South, and 0.8% lower in the West.
Total permits for 2025 were 1.43 million, a 3.6% decline from the 1.48 million total from 2024. Single-family permits in 2025 totaled 909,600, down 7.4% from the previous year.
Looking at regional permit data for 2025, total permits were 7.7% lower in the Northeast, 3.0% higher in the Midwest, 5.2% lower in the South, and 1.9% lower in the West.
About the National Association of Home Builders
The National Association of Home Builders (NAHB) is a Washington-based trade association representing more than 140,000 members involved in homebuilding, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing, and other aspects of residential and light commercial construction. NAHB is affiliated with 700 state and local homebuilders associations around the country. NAHB’s builder members will construct about 80% of the new housing units projected for this year.
