Single-family housing authorizations increased by 1.21% year over year in May. However, the pace of year-over-year growth has slowed in recent months, in step with declining homebuilder sentiment, which fell eight points in May to the lowest reading since June 2020, according to the National Association of Home Builders. The sharp rise in mortgage rates …
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Maintenance volumes experienced the first, albeit slight, year-over-year decline for the first time since May 2020, when existing housing activity started to show signs of recovery following the onset of the COVID-19 pandemic. Following strong growth in 2020 and 2021, home renovation activity may begin to cool down in step with the broader housing market. …
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New and existing housing activity experienced healthy year-over-year growth in July, yet the pace of growth has slowed in recent months, indicating that the market is stabilizing. This time last year, housing activity showed the first signs of growth following the initial shocks of the COVID-19 pandemic. While housing activity has continued its upward trajectory …
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Housing activity grew across all major indicators in June. However, the rate of growth has slowed from the prior month. Single-family housing authorizations increased 20.95% year over year, but decreased month over month for a third consecutive month, down 2.99%. Existing housing activity also increased year over year but growth decelerated from May, potentially driven …
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Housing activity showed continued growth across almost all indicators in October. Single-family housing authorizations increased for the third consecutive month, though the pace of growth slowed from September. While record-low mortgage rates have propelled housing activity forward amid the COVID-19 pandemic, homebuyer demand may have peaked as mortgage applications remained relatively flat in October. Meanwhile, …
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