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 16.15% year over year in August - the largest decline we've seen since we started tracking this data point back in July 2018.

Single-family housing authorizations -16.15% Y/Y decrease in August 2022

New Housing Supply

Single-family housing authorizations declined 16.15% year over year in August - the largest decline we've seen since we started tracking this data point back in July 2018.

Single-family housing authorizations -16.15% Y/Y decrease in August 2022

Existing Housing Supply

Maintenance volumes increased 7.59% year over year in August. Remodels, a subset of maintenance that includes renovations, additions, and alterations, increased 6.00% year over year in August.

Maintenance volumes 7.59% Y/Y increase in August 2022

Existing Housing Supply

Maintenance volumes increased 7.59% year over year in August. Remodels, a subset of maintenance that includes renovations, additions, and alterations, increased 6.00% year over year in August.

Maintenance volumes 7.59% Y/Y increase in August 2022

From The Desk

“Single-family housing authorizations decreased 16.15% year over year in August 2022 – the largest year-over-year decline we have seen since we started tracking this data point back in July 2018. This is driven, in part, by rising costs, increased mortgage rates, and concerns about the future stability of the housing market. Additionally, maintenance and remodel costs have increased by 21.56% and 16.26% year over year, respectively. Despite rising inflation, homeowners continue to invest in their existing properties, a positive sign amid declines in new housing supply.”

Jonathan Kanarek, managing 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.