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Residential Remodeling Numbers Flat in Most of Country

by devteam December 16th, 2014 | Share

The BuildFax Remodeling Index for Octoberrnindicates a slight slowdown in the number of building permits issued for thernpurpose of residential remodeling from the previous month.   The number of these permits, however werernsubstantially increased compared to one year earlier.  </p

Permits issued nationwide in October werernat a seasonally adjusted annual rate of 3.993 million.  This is 4 percent below the revised Septemberrnestimate of 4.141 million.  Permits werernissued in October at a rate 10 percent above the 3.637 million in October 2013.rn</p

The year-over-year improvement inrnpermitting was observed to some extent in all four regions of the country.  However the only region in which there was arnsubstantial change in both monthly and annual numbers was the Midwest wherernlocal building departments issued 851,668 remodeling permits, down 18 percentrnfrom the previous month.  The number wasrn12 percent higher than one year earlier. rnIn the Northeast there were 452,796 permits, down less than 1 percentrnfrom September and up 2 percent from October 2013.  The South had 1.716 million permits, againrnonly a fractional decrease from the previous month but up 11 percentrnyear-over-year.  In the West there werern886,553 permits, down 1 percent from September but up 3 percent from thernearlier period.

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About the Author

devteam

Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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