Single-Family Residential Activity Remains Challenged

Charlotte, NC, October 21, 2025-"Single family starts thus far in 2025 have declined in every month with the exception of July; July saw a surprise spike in starts, but this came off an easy comp and we think was likely also impacted by some favorable weather pull forward demand,” reports Truist. 

“Regardless, August starts returned to declines, with the largest of the year (-12% year-over-year). There has been no sign of change on the permit side as well, with no positive year-over-year change months year-to-date and August permit declines reaching down in the -16% range.”