Residential Remodeling in November 2013
Data Release: January 17, 2014
Residential remodels authorized by building permits in the United States in November were at a seasonally-adjusted annual rate of 2,542,000. This is 20% down from the revised October rate of 3,185,000 and is 18 percent below the November 2012 estimate of 3,087,000.
Regional Residential Remodeling
Seasonally-adjusted annual rates of remodeling across the country in November 2013 are estimated as follows: Northeast, 614,000 (down 12% from October and down 29% from November 2012); South, 1,301,000 (up 1% from October and up 7% from November 2012); Midwest, 486,000 (down 31% from October and down 28% from November 2012); West, 546,000 (down 35% from October and down 30% from November 2012).
Viewing the Economic Recovery Through Remodels
“We saw a lower-than-expected November 2013 in all regions but the South, which may have been an after-effect of the October government shutdown,” said Joe Emison, Chief Technology Officer at BuildFax, “although we still expect 2013 to be a bigger year for remodeling than 2012.”
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.