Single-family construction down in large metros, up in rural areas
Single-family construction posted declines in nearly every geographic region in the second quarter of 2025, with the largest percentage drop of 3.8% occurring in large metro, suburban counties where most permit activity occurs. According to the National Association of Home Builders (NAHB) Home Building Geography Index (HGBI) for the second quarter of 2025, these results are a "sign of a soft housing market."