Residential remodeling activity fell in September according to the latest data from the BuildFax Remodeling Index released Wednesday. Residential remodels authorized by building permits were at a seasonally adjusted rate of 2,701,000 for the month, a 12 percent drop from August and 5 percent below the September 2011 rate.
Regional activity was down overall as well. The South was the only area to show year-over-year growth, as September residential remodels there were up 12 percent from the year before. Otherwise, the Northeast was down 3 percent YOY; the Midwest 24 percent; and the West saw a 10 percent decrease in activity.
“September was a rough month for residential remodeling, but early returns from October appear to show an unusual jump, so we may just be seeing a significant percentage of deferred jobs,” said Joe Emison, chief technology officer at BuildFax.
The BuildFax Remodeling Index 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.
Related Stories
Harvard Says Remodeling Spending Downturn to Slow
Could the drop in remodeling spending from post-COVID levels regulate soon?
The Latest Data on Construction's Workforce
To close the housing deficit in the United States, the industry needs more skilled workers. Here's where construction's workforce stands
The Remodeling Market Could Turn in Q4, Says Harvard
Repair and remodeling spending could see an uptick at the end of the year
Building Materials Show Stability in 2023
Although supply chain bottlenecks have eased in recent months, shortages of some key materials persist.
Design Trends to Watch in 2024
What’s in and out for the upcoming year? Remodeling designers share insights
Remodeler Sentiment Remains Positive
Surveys reveal a strong outlook, and how the aging population will lift remodeling
Next Year to Challenge Remodeling, Says Harvard
The latest LIRA report predicts greater decrease in home improvement and remodeling spending
Top Siding and Window Colors for 2024
A recent survey identifies the top siding and window color choices for American homeowners
What Does the Past and Present of Remodeling Tell Us About the Future?
On this episode of Remodeling Mastery, industry advisor Mark Richardson shares bits of his keynote presentation at The Pinnacle Experience, highlighting different elements that shape the immediate future of the remodeling market
Remodeling Loan Data Reveals Geographical, National Trends
An analysis of loan data shows the most popular, and least popular, states for home improvement