Remodeling activity rebounds in July
Residential remodeling activity in the United States rose 6% in July 2012 compared with the previous month, according to an index compiled by BuildFax, a national database of building permit data. The July 2012 figure is 15% higher than residential remodels in July of 2011, according to the index.
Annual rates of remodeling authorized by building permits across the country in July 2012 were estimated as follows: Northeast, 765,000 (up 11% from June and up 31% from July 2011); South, 1,420,000 (up 24% from June and up 29% from July 2011); Midwest, 507,000 (down 4% from June and up 1% from July 2011); and West, 846,000 (up 2% from June and up 9% from July 2011).
“Remodeling activity rebounded in July after a slower June, and residential remodeling activity in 2012 remains significantly above what we saw 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.