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.
Positive growth across new and existing housing supply rounds out 2019. Additionally, an analysis into domestic migration and maintenance trends over the last ten years shows a negative correlation.
The trailing three-month outlook (October to December 2019) grew 5.77%.
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.
Decreases in single-family housing authorizations perpetuate slowdown. However, Colorado, Florida and Washington lead state-level increases in maintenance spend.