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Homebuilding loses ground as permitting slips toward a post-pandemic low

Zillow Research said 2025 home completions fell for the third straight year, while permits remained nearly 20% below their pre-pandemic trajectory.

Reported · Written up by our desk · Residential

Homebuilding activity is weakening, with permitting slipping toward a post-pandemic low, according to Zillow Research.

The outlet said home completions fell for the third straight year in 2025, adding to concerns that housing supply growth is slowing.

Zillow Research also noted that permitting is running nearly 20% below its pre-pandemic trajectory, suggesting fewer projects are in the pipeline than in past years.

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