2021 Agent Rankings Now Live!

RealTrends + Tom Ferry announce the 16th annual The Thousand list of America’s top 1,000 real estate sales professionals and teams.

Market Leaders

Ranking the top residential real estate firms in over 160 different metropolitan markets.

RealTrending: Guy Gal

Side Real Estate’s founder and CEO Guy Gal says they will enter some 15 markets in the next eight months.

Newsletter

The RealTrends monthly newsletter is known as the trusted industry source for information on trends, strategies, analysis, people and news shaping the real estate industry of tomorrow.

Housing Authorizations Edge Up, But Still Down from Last Year

Housing Authorizations Edge Up, But Still Down from Last Year

According to property database BuildFax, May 2019 showed a month-over-month single-family housing authorization increase of 0.46%–but a year-over-year decrease of 3.50%.

The trailing three-month outlook (March to May 2019) decreased 4.76% – the sixth consecutive month of declining activity. This is in stark contrast to May 2018, when the trailing three-month outlook increased 7.78%.

“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’t happened,” said Jonathan Kranarak, chief operating officer of BuildFax.

“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?”

According to the report, existing housing maintenance volumes declined 1%, but maintenance spend rose 4.48%. 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.

BuildFax noted that remodeling increased in five of the top 10 metropolitan statistical areas – Los Angeles, Miami Washington, Philadelphia and Chicago, with the most significant increases in Philadelphia and Chicago at 15.20% and 5.06% respectively.

Remodeling activity gives insight into the regions where homeowners are reinvesting in their properties—an 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.

Most Popular Articles

2021 Market Leaders: Compass, flat-fee brokers make noise

RealTrends Market Leaders ranks the top residential real estate firms in over 160 different metropolitan areas based on 2021 RealTrends 500 brokerage rankings.

Jul 22, 2021 By

Latest Articles

RealTrending ep. 105: Investors shift how they value brokerage firms

In this edition of RealTrending, Steve Murray, senior advisor to RealTrends, shares his thoughts the shifting market, the only real key to real estate success and the shift in how investors are valuing brokerage firms.

Jul 26, 2021 By