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Friday, February 18, 2011

Residential Remodeling Index

by Calculated Risk on 2/18/2011 02:54:00 PM

Diana Olick at CNBC mentioned a remodeling index from BuildFax this week:

A remodeling index from Texas-based BuildFax shows a national surge in remodeling work toward the end of the year, which appears to be continuing now.
It seem to me that requires a graph!

ISM PMI Click on graph for larger image in graph gallery.

The BuildFax Residential Remodeling Index is based on the number of properties pulling residential construction permits in a given month.

Sure enough - as Diana Olick noted - there has been a "surge in remodeling work" with November close to the levels of 2004 through 2006, and the strongest December since BuildFax started the index in 2004.

Note: permits are not adjusted by value, so this doesn't mean there is more money being spent, just more permit activity. Also some smaller remodeling projects are done without permits and the index will miss that activity.

Data Source: BuildFax, Courtesy of