Residential Remodeling in October 2013
Data Release: December 17, 2013
Residential remodels authorized by building permits in the United States in October were at a seasonally-adjusted annual rate of 3,266,000. This is 2% up from the revised September rate of 3,171,000 and is 1 percent above the October 2012 estimate of 3,183,000.
Regional Residential Remodeling
Seasonally-adjusted annual rates of remodeling across the country in October 2013 are estimated as follows: Northeast, 727,000 (down 16% from September and down 16% from October 2012); South, 1,280,000 (up 7% from September and down 10% from October 2012); Midwest, 718,000 (down 8% from September and up 15% from October 2012); West, 817,000 (up 6% from September and up 8% from October 2012).
Viewing the Economic Recovery Through Remodels
“Through the first 10 months of 2013, we have seen a 7% increase in the overall number of residential remodels as compared with 2013,” said Joe Emison, Chief Technology Officer at BuildFax, “and we expect that number to stay the same or improve through the end of 2013.”
About the BuildFax Remodeling Index
The BuildFax Remodeling Index (BFRI) is based on construction permits for residential remodeling projects filed with local building departments across the country. The index estimates the number of properties permitted. The national and regional indexes are based upon a subset of representative building departments in the U.S. and population estimates from the U.S. Census. The BFRI is seasonally-adjusted using the X12 procedure.
Historical Values and Subscription Information
The BuildFax Remodeling Index is available as a monthly email with an Excel spreadsheet attachment. Each month’s release contains the full list of historical values for the country and each of the four regions, going back to August of 2004. When you subscribe, you will receive the most recent release within one business day. Click here to subscribe for $150/year. You can also subscribe to the free data release mailing list, which delivers the information you see on this page by email each month.
BuildFax is the creator of the first and only national database of historical building permit data. Headquartered in Asheville, North Carolina, BuildFax has created a proprietary property intelligence engine that contains building and permitting information from 5,000+ cities and counties throughout the country. As the best and only source of a structure’s “life story,” the BuildFax database continues to grow, currently covering over 60 percent of the U.S. commercial and residential building stock with over 6 billion data points.