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.
Housing activity, across a majority of indicators, fell in June, however the data tells a more nuanced story. The number of single-family housing authorizations experienced the steepest year-over-year decline in recent history. Meanwhile, existing housing activity remained relatively flat.
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%.
Housing activity enters 2020 on a strong note with increases across almost all major indicators.