Market Overview

BuildFax Releases U.S. Housing Report, Reveals Slight Increase in Housing Authorizations

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The report unveiled a 0.62 percent increase in single-family housing
authorizations and first year-over-year dip in rate of remodeling since
2015

BuildFax,
a leading provider of property condition and history insights for the
largest insurance and financial institutions, released a report today on
three major economic indicators for the U.S. housing market:
single-family housing authorizations, existing housing maintenance and
existing housing remodeling.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180815005210/en/

The BuildFax report unveiled a 0.62 percent increase in single-family housing authorizations and the ...

The BuildFax report unveiled a 0.62 percent increase in single-family housing authorizations and the first year-over-year dip in the rate of remodeling since 2015. (Photo: Business Wire)

The data revealed an increase in the annual rate of single-family
housing authorizations. The annual rate of remodel spend, however—which
includes renovations, alterations and additions to a structure—is still
increasing substantially:

  • New Housing Supply:
    • Single-family housing authorizations increased at a seasonally
      adjusted rate of 0.62 percent from June to July of 2018.
    • Single-family housing authorizations in July 2018 increased at a
      seasonally adjusted annual rate of 4.77 percent.
  • Existing Housing Maintenance:
    • The annual rate of housing maintenance volume increased 5.23
      percent.
    • Housing maintenance spend increased at an annual rate of 8.04
      percent.
  • Existing Housing Remodels:
    • The annual rate of remodel volume remained flat with a 0.26
      percent decrease.
    • Remodel spend increased at an annual rate of 8.96 percent.

"We are not seeing a large bounce-back from the decline in June housing
authorizations," said BuildFax COO Jonathan Kanarek. "However, we have
to remember that all three categories—new housing, remodels and
maintenance—are at historically high levels. Remodeling alone is up 30
percent in the last five years. The slight dip in remodeling volume may
be an early indicator of a leveling off of the very hot housing
construction market we've seen in the last few years."

For access to the full report, click here.
To learn more about BuildFax, visit www.buildfax.com.

Methodology

BuildFax conducted this study by examining properties in the U.S.
between the years 2013 and 2018. The statistics in this report are
calculated using sampled dated from across the U.S. All data is
seasonally adjusted and imputed to reflect numbers representative of the
entire country. Due to historical revisions made by permitting
authorities, the data is subject to change. Estimates are as of Aug. 8,
2018.

About BuildFax

BuildFax, headquartered in Austin, Texas, is trusted by the largest
insurance and financial institutions in the world to deliver
business-critical property condition and history data. With the only
database of its kind encompassing more than 23 billion data points on
commercial and residential structures, BuildFax delivers detailed data
on remodeling, solar installations, new construction, roof age, major
systems, maintenance history and more. To learn more about BuildFax,
visit www.buildfax.com.

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