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Residential remodels authorized by building permits in the United States in September were at a seasonally-adjusted annual rate of 3,145,000. This is flat from the revised August rate of 3,154,000 and is 14 percent above the September 2012 estimate of 2,747,000.
Seasonally-adjusted annual rates of remodeling across the country in September 2013 are estimated as follows: Northeast, 678,000 (up 22% from August and up 12% from September 2012); South, 1,223,000 (down 3% from August and up 9% from September 2012); Midwest, 780,000 (down 3% from August and up 35% from September 2012); West, 746,000 (down 2% from August and up 9% from September 2012).
"Through the first 9 months of 2013, we have seen a 10% increase in the overall number of residential remodels as compared with 2013," said Joe Emison, Chief Technology Officer at BuildFax, "and we expect that number to stay the same or improve through the last quarter of 2013."
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 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.
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