BuildFax June Report Shows Signs of a Cooling Housing Market
Single-family housing authorizations see third consecutive monthly dip.
The BuildFax Housing Health Report leverages U.S. property condition and history data to provide insights into macro- and microeconomic trends affecting the U.S. housing market.
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 by homeowners waiting for home prices to fall before re-entering the market.
Key findings from June’s report include:
- Single-family housing authorizations increased 20.95% year over year in June.
- Maintenance volume and spend increased 10.19% and 29.26% year over year, respectively.
- Remodels – a subset of maintenance than includes renovations, additions, and alterations – experienced year-over-year increases across volume and spend at 12.31% and 31.24%, respectively.
For the latest insights on U.S. housing activity, download the full report.
BuildFax is a Verisk business.
CONTRACTOR SUPPLY MAGAZINE
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