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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.
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).
"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.
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.
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 November 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.
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