The U.S. Census Bureau’s New Residential Construction report shows relatively steady housing activity nationwide, though most key metrics remain slightly below last year’s levels. Compared to January 2025, building permits and housing completions declined modestly year over year. Year over year, the South continues to account for the largest share of permits and starts. Relative to other regions, activity in the West remains softer, while the Midwest and Northeast show more moderate and stable year‑over‑year changes.

Building permits can offer an early signal of future construction activity, though timing and follow‑through vary by region. The Census Bureau notes that underlying trends typically take several months to emerge, highlighting the importance of longer‑term planning over month‑to‑month signals.

Source: U.S. Census Bureau, New Residential Construction report