Remodeling activity declined in June, according to BuildFax
Residential remodeling activity in the United States declined 6% in June 2012 compared with May, according to an index compiled by BuildFax, a national database of building permit data. The June 2012 figure is 1% below the revised June 2011 number.
Annual rates of remodeling authorized by building permits across the country in June 2012 are estimated as follows: Northeast, 692,000 (down 11% from May and up 7% from June 2011); South, 1,071,000 (down 5% from May and up 1% from June 2011); Midwest, 487,000 (down 9% from May and down 9% from June 2011); and West, 724,000 (down 8% from May and down 9% from June 2011).
“Remodeling growth is slowing down, but we still estimate that more residential remodeling projects will be permitted in 2012 than in 2011,” said Joe Emison, VP research and development at BuildFax.
Co-headquartered in Austin, Texas, and Asheville, N.C., BuildFax, a division of BUILDERadius, maintains a national database of historical building permit data. It also operates a proprietary property intelligence engine that contains building and permitting information from more than 4,000 cities and counties throughout the country.