BFRI: Residential Remodeling in March 2014 is DOWN 7%

Residential remodels authorized by building permits in the United States in March were at a seasonally-adjusted annual rate of 2,771,000. This is down 7% from the revised February rate of 2,994,000 and is down 2% from the March 2013 estimate of 2,841,000.

Regional Residential Remodeling

Seasonally-adjusted annual rates of remodeling across the country in March 2014 are estimated as follows: Northeast, 578,000 (up 8% from February and down 5% from March 2013); South, 1,398,000 (down 2% from February and up 18% from March 2013); Midwest, 399,000 (down 3% from February and down 30% from March 2013); West, 697,000 (down 7% from February and down 6% from March 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.

About BuildFax

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.

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