FX.co ★ US Building Permits Hit 5-Month Low

In January 2026, US building permits declined 5.4% month-over-month to a seasonally adjusted annual rate of 1.376 million, according to preliminary estimates. This was below market expectations of 1.41 million and marked the lowest level since August 2025.

The overall drop was driven largely by multifamily construction: permits for buildings with five or more units fell 13.4% from the previous month to 453,000. Single-family permits also edged lower, declining 0.9% to 873,000.

Regionally, permitting activity weakened in most parts of the country. The Northeast recorded a 9.6% decline to 151,000, the South slipped 3.5% to 691,000, and the West tumbled 15.7% to 305,000. In contrast, the Midwest saw a 9% increase, with permits rising to 229,000.