Remodeling Rebounds after Slow Summer Start

Building permits for residentialrnremodeling were issued at a seasonally adjusted annual rate of 3.14 million inrnJuly, an increase of 6 percent from June and 15 percent above than the 2.724rnmillion permit rate of July 2011.  </p

According to Joe Emison, Vice Presidentrnof Research and Development at BuildFax which released the figures onrnWednesday, “Remodeling activity reboundedrnin July after a slower June, and residential remodeling activity in 2012rnremains significantly above what we saw in 2011.”</p

Inrnthe Northeast Region permits were issued at an annual rate of 765,000, up 11rnpercent month-over-month and 31 percent year-over-year.  In the South there were 1.42 million permitsrnissued during the month, a 24 percent increase from June and 29 percent fromrnJuly 2011.  The West had a 2 percentrnincrease from June and 9 percent from July 2011 to an annual rate ofrn507,000.  Only in the Midwest didrnremodeling permits decline, falling by 4 percent from June and increasing only 1rnpercent on an annual basis. </p

ThernBuildFax numbers come from a national database of building and permitting informationrnfrom over 5,000 cities and towns through the U.S.  The database covers over 60 percent of thernnation’s commercial and residential building stock.

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