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.
The July BuildFax Housing Health Report revealed that severe spring weather and ensuing roof repairs drove rising maintenance activity last month. Single-family housing authorizations saw its ninth consecutive month of annual declining activity.
Single-family housing authorizations declined 4.18% year over year.
Maintenance volumes rose year over year, spurred by roof maintenance activity.
Hurricane recovery persists in natural disaster-prone states. The overlapping storm recovery for Irma and Michael is important for insurance carriers to monitor before 2019’s hurricane season is in full swing.
Repeat declines in single-family housing authorizations confirm the housing market slowdown is persisting. Housing activity in Dallas, New York City, Chicago and Washington D.C. rises despite housing market cooling.
On the state level, Nevada, Oregon and Florida led decreases in maintenance activity, a signal of shifts in consumer confidence. Demolition activity increases in 2018, highlighting reinvestment opportunities.