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 current supply of homes on the market remains historically low and new construction has slowed in recent months, putting upward pressure on prices due to strong demand and supply-side constraints. Looking ahead, it is likely that higher inflation from housing will continue.
Housing activity was largely positive, although the pace of growth has slowed from its white-hot trajectory following the COVID-19 pandemic.
Housing activity shows signs of stabilizing, as consumer confidence
fell to its lowest levels since February.
New and existing housing activity experienced healthy year-over-year growth in July, yet the pace of growth has slowed in recent months.
After several months of significant growth in 2021, the housing market showed signs of cooling off in June as the pace of growth slowed across major indicators.
Remodeling activity increased, year over year, across most major metro areas, most significantly in Philadelphia and Chicago.
New and existing housing activity increased for the ninth consecutive month in April, however, the building materials shortage may threaten the pace of growth.