Single-family housing permits slipped for the seventh month in a row, highlighting affordability headwinds and weak demand. While multifamily permits ticked up, the sector’s volatility leaves the outlook uncertain. The split underscores a housing market still under strain, with single-family softness weighing on broader growth prospects. Over the first seven months of 2025, the total number of single-family permits issued year-to-date (YTD) nationwide reached 565,208. On a year-over-year (YoY) basis, this is a decline of 5.7% over the July 2024 level of 599,308. For multifamily, the total number of permits issued nationwide reached 286,836. This is 2.6% higher compared to the July 2024 level of 279,618.