Shovels Quarterly Permit Index: Q1 2025

The Q1 2025 Shovels Permit Index reveals a 6.1% decline in US building permits to 2.02 million, marking the third consecutive quarter of decreases. While the overall trend shows caution, the rate of decline is slowing compared to Q4 2024’s 12.5% drop. Regional analysis shows significant growth in counties like Pulaski (AR), Mahoning (OH), and Salt Lake (UT), while major builders like D.R. Horton and Lennar Homes continue to perform strongly. The report highlights the impact of economic factors…