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.
After several months of significant growth in 2021, the housing market showed signs of cooling off in June as the pace of growth slowed across major indicators.
Remodeling activity increased, year over year, across most major metro areas, most significantly in Philadelphia and Chicago.
New and existing housing activity increased for the ninth consecutive month in April, however, the building materials shortage may threaten the pace of growth.
The U.S. housing market has recovered beyond its pre-pandemic pace since showing first signs of a slowdown one year prior.
Exterior home renovations have increased to accommodate new lifestyle norms brought on by the COVID-19 pandemic.
Despite a wavering economic recovery amid the persisting COVID-19 pandemic, housing activity enters 2021 on strong footing with increases across almost all indicators.
Housing activity was a bright spot for the economy in 2020 with growth likely to continue into 2021 to help curb the persisting housing shortage.