The BuildFax Housing Health Report provides monthly insight into the health of the U.S. housing market with a particular focus on single-family housing authorizations and existing housing maintenance trends.
In August 2020, housing activity experienced blanket increases for the first time since November, driven by consumer demand for both new construction and a healthier housing stock. One example is the unprecedented rise in pool construction across the United States.
Existing housing activity experienced notable growth in July, after experiencing its steepest declines in recent history just three months prior. Meanwhile, new construction increased month over month, but declined year over year.
Single-family housing authorizations sink in June, but existing housing activity may be stabilizing after steep declines the past couple months.
New and existing housing activity declined across the board in May, but a rebound may be imminent as other indicators, like construction hiring, see improvement.
COVID-19 reached its peak in the United States last month and the housing market felt the strain of the pandemic. Existing housing activity was no exception.
Maintenance and remodeling activity turned down sharply in March, as the COVID-19 outbreak led to shelter-in-place orders across the nation.
Single-family housing authorizations decreased 7.21% month over month, signaling potential COVID-19 concerns. Meanwhile, the trailing three-month outlook rose 7.42%.