BuildFax Housing Health Report

Discover the latest trends affecting the overall health of the U.S. housing market with monthly updates on new construction and remodeling activity across the country.

New Housing Supply

Single-family housing authorizations declined 24.63% year over year in October - the largest decline we've seen since we started tracking this data point back in July 2018.

Single-family housing authorizations -24.63% Y/Y decrease in October 2022

New Housing Supply

Single-family housing authorizations declined 24.63% year over year in October - the largest decline we've seen since we started tracking this data point back in July 2018.

Single-family housing authorizations -24.63% Y/Y decrease in October 2022

Existing Housing Supply

Maintenance volumes increased 2.75% year over year in October. Remodels, a subset of maintenance that includes renovations, additions, and alterations, increased 1.58% year over year in October.

Maintenance volumes 2.75% Y/Y increase in October 2022

Existing Housing Supply

Maintenance volumes increased 2.75% year over year in October. Remodels, a subset of maintenance that includes renovations, additions, and alterations, increased 1.58% year over year in October.

Maintenance volumes 2.75% Y/Y increase in October 2022

From The Desk

“The housing market is slowing down considerably. Single-family housing authorizations plunged 24.63% year over year in September, marking the fourth consecutive month we’ve seen the largest year-over-year decline since we started tracking this data point in July 2018.

The housing market continues to feel the impact of lower demand due to higher mortgage rates. With the Federal Reserve raising interest rates again in September and economic uncertainty looming, recent declines are likely just the beginning of what’s likely to be a sharp pullback in new construction.”

Chris Schaum, Director

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In May, single-family housing authorizations increased, but the pace of year-over-year growth has slowed in recent months in step with declining homebuilder sentiment. Affordability challenges posed by rising mortgage rates, high home prices, and expensive building materials have weakened buyer demand. It is likely the housing market will remain at a slower pace than what was seen at the beginning of the year.