As we approached the one-year anniversary of the onset of the COVID-19 pandemic, housing activity continued to experience notable growth. In our latest webinar, Director of Business Development Christopher Schaum explores the intersection of COVID-19 and the housing market, and how the pandemic continues to reshape homeowner behaviors. For more insight on the U.S. housing …
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As we approached a year since the outbreak of COVID-19, housing activity continued to experience notable growth with increases across key indicators in February. New and Existing Housing Supply Activity, February 2021 Single-family housing authorizations increased 9.08% year over year. Existing housing maintenance volume increased 7.46% year over year. Existing housing remodel volume increased 6.73% …
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Despite a wavering economic recovery amid the persisting COVID-19 pandemic, housing activity enters 2021 on strong footing with increases across almost all indicators. Single-family housing authorizations increased year over year for the sixth consecutive month—a positive sign, given the severe U.S. housing shortage. Meanwhile, month-over-month activity remained relatively flat, decreasing just 0.36%. This is likely …
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Housing activity ended 2020 on a strong note with increases across almost all major indicators. New construction activity was a bright spot for the economy in 2020. Single-family housing authorizations increased 13.97% year over year and 3.21% month over month. The housing market, however, is still experiencing some growing pains with inventory hitting record lows …
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Housing activity remains strong in November, experiencing blanket growth across key indicators for the second time this year. Nine months into the pandemic, we’re seeing some clear trends emerging related to homeowner behavior. “Maintenance spend surged in November to the largest year-over-year increase we’ve ever seen,” said Jonathan Kanarek, managing director of BuildFax, a Verisk …
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There’s been a huge uptick in residential remodeling in the last several years. In some states, homeowners are investing more on average than others. To find out which states are spending the most, BuildFax analyzed the more than 80 million residential properties in our database to determine the average remodeling job cost per state in 2016 (for recorded job …
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We recently compared commercial new construction and commercial remodeling over the course of the Great Recession. Based on the findings of our residential study, we suspected there might also be a similar trend in commercial construction. The results from this new study illuminate some interesting findings, especially as they relate to commercial lines. Additions, remodels, and alterations …
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It’s been more than eight years since the Great Recession in which both commercial and residential construction took a hit. The drastic drop happened quickly, but where is the market headed now, specifically for the commercial space? We recently compared commercial new construction and commercial remodels over the course of the Great Recession. Based on …
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We recently compared residential new construction and residential remodeling permit activity over the lifecycle of the recent housing crisis. We found that residential remodeling activity has surpassed its pre-housing crisis peaks while new construction has barely kept up. “Given that we are looking at more than a decade of data,” said Holly Tachovsky, CEO at BuildFax, …
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Recently on a hunch, we compared residential new construction and residential remodeling construction numbers over the lifecycle of the recent housing crisis. We suspected a lingering inequality trend between the two, and we found some pretty staggering results. For our study, we looked at just over thirty-seven million residential properties. The hunch proved …
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