{"id":756,"date":"2019-06-21T20:27:00","date_gmt":"2019-06-21T20:27:00","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2019\/06\/21\/housing-authorizations-edge-up-but-still-down-from-last-year\/"},"modified":"2025-03-13T02:07:39","modified_gmt":"2025-03-13T02:07:39","slug":"housing-authorizations-edge-up-but-still-down-from-last-year","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2019\/06\/21\/housing-authorizations-edge-up-but-still-down-from-last-year\/","title":{"rendered":"Housing Authorizations Edge Up, But Still Down from Last Year"},"content":{"rendered":"<h2>Housing Authorizations Edge Up, But Still Down from Last Year<\/h2>\n<h6><em>According to property database BuildFax, May&nbsp;2019 showed a month-over-month single-family housing authorization&nbsp;increase of 0.46%&#8211;but a year-over-year decrease of 3.50%.<\/em><\/h6>\n<p>The trailing three-month outlook (March to May 2019)&nbsp;decreased 4.76% \u2013 the sixth consecutive month of <a href=\"existing-home-sales-declined-in-april\/\">declining activity<\/a>. This is in stark contrast to May 2018, when the trailing three-month outlook increased 7.78%.<\/p>\n<p><!--more--><\/p>\n<blockquote>\n<p class=\"p1\">&#8220;The combination of declining mortgage rates, moderating home prices and peak home-buying season should help to buoy the housing market, but so far this hasn\u2019t happened,&#8221; said Jonathan Kranarak, chief operating officer of BuildFax.<\/p>\n<p class=\"p1\">&#8220;Continued declines in year-over-year maintenance and single-family housing authorizations further reinforce the ongoing housing slowdown. As we near six months of declining activity, the question remains, how long will this slump persist?&#8221;<\/p>\n<\/blockquote>\n<p class=\"p1\">According to the report, existing housing maintenance volumes declined 1%, but maintenance spend&nbsp;rose 4.48%.&nbsp;This seemingly contrasting data is likely due to labor shortages in the construction industry and other economic factors, including the impact of recent increased tariffs on building material.<\/p>\n<p class=\"p1\"><a href=\"https:\/\/www.buildfax.com\/\" target=\"_blank\" rel=\"noopener\">BuildFax<\/a> noted that remodeling increased in&nbsp;five of the top 10 metropolitan statistical areas&nbsp;\u2013 Los Angeles, Miami Washington, Philadelphia and Chicago, with the most significant increases in Philadelphia and Chicago at 15.20% and 5.06% respectively.<\/p>\n<p class=\"p1\"><a href=\"homeowners-putting-the-brakes-on-remodeling-spending\/\">Remodeling activity<\/a> gives insight into the regions where homeowners are reinvesting in their properties\u2014an important factor amidst a housing slowdown as it can show where the U.S. housing stock is riskiest while also highlighting cities with an active housing market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Housing Authorizations Edge Up, But Still Down from Last Year According to property database BuildFax, May&nbsp;2019 showed a month-over-month single-family housing authorization&nbsp;increase of 0.46%&#8211;but a year-over-year decrease of 3.50%. The trailing three-month outlook (March to May 2019)&nbsp;decreased 4.76% \u2013 the sixth consecutive month of declining activity. This is in stark contrast to May 2018, when [&hellip;]<\/p>\n","protected":false},"author":15802,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[],"class_list":["post-756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Housing Authorizations Edge Up, But Still Down from Last Year<\/title>\n<meta name=\"description\" content=\"According to property database BuildFax, May\u00a02019 showed a month-over-month single-family housing authorizations\u00a0increase of 0.46%--but a year-over-year decrease of 3.50%.\" \/>\n<meta name=\"robots\" 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