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 enters 2020 on a strong note with increases across almost all major indicators. Meanwhile, an analysis of the top 10 most populous metros reveals growth in maintenance activity and declines in new construction.
The trailing three-month outlook (October to December 2019) grew 5.77%. Additionally, for a majority of the past decade, as domestic migration decreased, maintenance increased.
Increases in single-family housing authorizations reach new highs in November. The probability of a recession dropped to 42% in November from nearly 50% earlier in the year.
Single-family housing authorizations increase year over year for the first time in more than a year. California housing activity experiences notable growth in wildfire-impacted regions.
Single-family housing authorizations increased 3.57% month over month. On the metro level, New York City, Philadelphia, and Washington D.C. lead housing activity.
Single-family housing authorizations declined for the third straight quarter while maintenance and remodeling volumes experienced a slow rise after six months of decreasing activity.
Maintenance and remodel volumes see simultaneous year-over-year rises for the first time since September 2018, likely a result of soaring roof maintenance activity.