The pace of decline in U.S. building permits moderated in January, suggesting a tentative stabilisation in residential construction intentions. According to the latest data updated on 19 March 2026, building permits fell 4.7% month-over-month in January 2026, compared with a sharper 5.4% decline in the previous reading.
Both the current and previous indicators are based on month-over-month comparisons, where the “actual” figure measures the change in permits in January versus December, and the “previous” figure reflects the change in the earlier month versus its prior period. While permits are still contracting, the smaller drop indicates that the downward momentum may be losing some force, a development closely watched by investors tracking the health and forward outlook of the U.S. housing market.