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The Residential BuildFax Remodeling Index is up 22.8% year-over-year in December 2011 at 127.4 points. Residential remodels in December were down month-over-month 10.5 points (7.6%) from the November value of 137.9, and up year-over-year 23.6 points from the December 2010 value of 103.8.
In December 2011, the West (7.7 points; 5.3%), the Midwest (16.5 points; 13.8%), the Northeast (1 point; 1.3%) and the South (5.4 points; 5.8%) all had month-over-month losses. Regions up in year-over-year gains from December of 2010: the West (33.1 points; 31.7%), the Midwest (9.2 points; 9.8%) and the South (4.1 points; 5%). The Northeast dropped again by 2.2 points (3%).
"Remodeling activity slowed from November to December 2011 as it did 2010- an expected change seen in previous years around the holidays. The BuildFax Remodeling Index is still showing notable year-over-year growth," said Joe Emison, Vice President of Research and Development at BuildFax.
The BuildFax Remodeling Index is based on construction permits filed with local building departments across the country. The index tracks the number of properties permitted. The national and regional indexes all have an initial value of 100 set in April of 2004, are based on a three-month moving average, and are not seasonally adjusted.
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 April 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.