Residential Remodeling in December 2013
Data Release: February 18, 2014
Residential remodels authorized by building permits in the United States in December were at a seasonally-adjusted annual rate of 2,937,000. This is 1% up from the revised November rate of 2,900,000 and is 9 percent above the December 2012 estimate of 2,704,000.
Regional Residential Remodeling
Seasonally-adjusted annual rates of remodeling across the country in December 2013 are estimated as follows: Northeast, 570,000 (down 7% from November and down 27% from December 2012); South, 1,188,000 (up 1% from November and up 14% from December 2012); Midwest, 548,000 (down 10% from November and down 3% from December 2012); West, 837,000 (up 13% from November and up 16% from December 2012).
Viewing the Economic Recovery Through Remodels
“Except for the Northeast, all regions (and the nation as a whole) saw increases in residential remodeling activity in 2013 over 2012” said Joe Emison, Chief Technology Officer at BuildFax.
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.
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.