Strengthening Economic Signals Ease Housing Slowdown
The BuildFax Housing Health Report leverages U.S. property condition and history data to provide insights into macro- and microeconomic trends affecting the U.S. housing market. In September, BuildFax research revealed strengthening economic signals have potentially eased the housing slowdown.
Single-family housing authorizations rose 3.57 percent month over month in September. Meanwhile year-over-year existing housing construction, which includes maintenance and remodeling, increased substantially, rising 5.54 percent and 7.22 percent respectively. The increases across housing activity suggest lower mortgage rates could be providing a slight boost to the market.
Meanwhile, three metros–New York City, Philadelphia, and Washington D.C.–experienced increases on a trailing 12-month basis across new and existing construction.
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