Residential Remodels Gradually on the Rise
August 15, 2013
The Buildfax Remodeling Index reported June residential remodels authorized by building permits in the United States at a seasonally adjusted annual rate of 3,447,000. This rate is 1 percent below the revised May rate of 3,492,000 and 21 percent above the June 2012 estimate of 2,844,000, according to an Aug. 15 release.
"With such month-to-month volatility, the traditional month-over-month and year-over-year metrics aren't as useful as they have been in capturing residential remodeling trends," says Joe Emison, chief technology officer at BuildFax, in the release. "Instead, it is easier to see an overall gradual improvement in the observation that in the 12 months ending June 2013, we see a 6 percent increase nationally in permitted residential remodeling projects versus the 12 months prior to that (ending in June 2012)."
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