Blog

Remodeling Spend to Slow in 29 Major U.S. Metros This Year

Remodeling spend will not keep pace with its steep 2018 increases in 29 of 49 major metros across the U.S., according to a new report from the Joint Center for Housing Studies (JCHS), a Harvard University initiative that researches housing issues relevant to public policy. The JCHS report leverages a modeling tool, which forecasts residential... Read More

Introducing: BuildFax’s New Brand Identity

We’re excited to announce that on the heels of the BuildFax 10-year anniversary, we’ve rebranded. It’s fitting that these milestones coincided. Over the past ten years, the company has grown at breakneck speeds. In 2008, BuildFax established a previously non-existent class of data after identifying a gap in the market: across industries, there was a... Read More

2019 Hurricane Season Threatens Properties in Weather-Worn Regions

Storm activity during the 2019 hurricane season is forecasted to produce between two and four major hurricanes with winds higher than 111 mph, according to the National Oceanic and Atmospheric Administration (NOAA). The NOAA defines this level of hurricane activity as normal for the season. However, recent trends in weather activity and the impacts of an... Read More

City-Level Remodeling Activity Increases in Five Major Metro Areas, Amid National Declines

The May BuildFax Housing Health Report (BHHR) revealed that even as economic pressures are easing on a national level, for instance moderating home prices and declining mortgage rates, the housing market is still in a slump. Year over year, single-family housing authorizations, maintenance and remodeling are down. However, BuildFax found that increases in city-level remodeling... Read More

2019 Hurricane Season Threatens Properties in Weather-Worn Regions

Storm activity during the 2019 hurricane season is forecasted to produce between two and four major hurricanes with winds higher than 111 mph, according to the National Oceanic and Atmospheric Administration (NOAA). The NOAA defines this level of hurricane activity as normal for the season. However, recent trends in weather activity and the impacts of... Read More

After Several Years of Rapid Insurance Innovation, Carriers Reflect on Value

A thread woven throughout sessions and sidebars at DigIn 2019 was the idea that insurance innovation is in a period akin to halftime during a football game. Over the past few years, the industry has experienced a substantial ramp up. It’s no longer a question of whether accurate property data is relevant to a carrier’s business... Read More

Natural Disasters Contribute to Shift in Maintenance Activity: April BuildFax Housing Health Report

The April BuildFax Housing Health Report (BHHR) revealed an increase in maintenance activity after five months of decreases, while single-family housing authorizations continued to decline.  Maintenance activity increases are owed, in part, to severe convective storms across the U.S. With hurricane season on the horizon, BuildFax anticipates inclement weather to continue to impact maintenance volumes,... Read More

Catastrophe Reinsurance Rates to Rise at June Renewals, Signaling Need for Increased Property Intelligence

Catastrophe reinsurance rate increases didn’t come to fruition in 2018, however, this year Florida reinsurers are expecting a shift in the market. Analysts reported catastrophe reinsurers have added inflation factors into their pricing following two years of impactful hurricane seasons and external pressures from increasing loss creep. The effect of loss creep was made particularly... Read More

New Migration Patterns Create Opportunities for Carriers to Expand their Book of Business

More and more people moved out of typically high-demand states in favor of up-and-coming regions last year, according to the 2018 U.S. Migration Report by northAmerican Moving Services. This allows carriers a prime marketing opportunity to expand their book of business into new areas. The report found that last year, Illinois, California and New Jersey... Read More

Elevated Wildfire Activity in Florida Panhandle Signifies Need for Proactive Claims Resolution

It’s been six months since Hurricane Michael first made landfall on the Florida Panhandle and hurricane recovery is progressing at a steady rate – major repair completion is projected to be three months away. However, discussion of Michael has resurfaced as officials credit a recent uptick in wildfire activity to hurricane-downed trees strewn across the... Read More