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flag U.S. building permits fell for three straight months in 2025 due to high rates and shortages, with construction slowing most in high-cost areas.

flag In mid-2025, U.S. building permits declined nationally for three consecutive months due to high mortgage rates and a housing shortage, with single-family construction slowing more than multifamily. flag Florida metros like Daytona Beach and Jacksonville saw steep drops, while smaller Midwest and Southern cities such as Des Moines, Knoxville, and Little Rock maintained or grew activity due to affordability, job growth, and strong rental demand. flag Multifamily permits rose slightly in some areas, but overall construction remains uneven, with high-cost cities like Atlanta and Washington, D.C., seeing reduced building as financing challenges and inventory concerns dampen development.

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