Thursday, June 21, 2012

Residential Remodeling Index increases 2 percent in April

by Calculated Risk on 6/21/2012 09:54:00 PM

BuildFax Remodeling Index

Residential remodels authorized by building permits in the United States in April were at a seasonally-adjusted annual rate of 2,729,000. This is 2 percent above the revised March rate of 2,683,000 and is 12 percent above the April 2011 estimate of 2,447,000.

Seasonally-adjusted annual rates of remodeling across the country in April 2012 are estimated as follows: Northeast, 397,656 (up 5% from March and up 11% from April 2011); South, 1,102,000 (up 5% from March and up 14% from April 2011); Midwest, 484,000 (down 11% from March and up 7% from April 2011); West, 768,000 (up 2% from March and up 10% from April 2011).

"Remodeling continues to grow steadily in the U.S. on a seasonally-adjusted basis; more residential remodeling projects were started in April 2012 than in any of the prior six Aprils," said Joe Emison, Vice President of Research and Development at BuildFax
Three key components of residential investment are increasing: home improvement, new multi-family structures, and recently new single family structures.

Earlier on Existing Home Sales:
Existing Home Sales in May: 4.55 million SAAR, 6.6 months of supply
Existing Home Sales: Inventory and NSA Sales GraphExisting Home Sales graphs