Remodeling index hits record high; up 9.5 percent compared to 2010
The BuildFax Remodeling Index for August 2011 showed that remodeling activity reached a record high that month, representing the 22nd consecutive month of increases. BuildFax officials also reported that more than 3.1 million residential remodeling projects were permitted in 2010 and that just under 2 million residential remodeling jobs have already been permitted through July 2011, putting this year on track for an estimated 3.3 million permitted remodeling projects.
In August, the West was up 9.3 percent; the Midwest up 10.8 percent; and the South up 1 percent. Only the Northeast region saw a decline in remodeling activity, down -0.8 percent, according to a BuildFax release.