The number of residential remodeling projects hit a new benchmark in August, registering 3,204,000 on a seasonally adjusted basis, the highest since April 2008, according to an index compiled by BuildFax, a national database of building permit data. On a monthly basis, residential remodels rose 3% in August 2012 compared with the previous month. Year over year, August 2012 showed a 5% growth rate, measured on a seasonal basis, compared with August 2011.
Annual rates of remodeling authorized by building permits across the country in July 2012 were estimated as follows: Northeast, 895,000 (down 4% from July and up 20% from August 2011); South, 1,302,000 (down 3% from July and up 21% from August 2011); Midwest, 588,000 (up 5% from June and down 7% from August 2011); and West, 832,000 (up 3% from July and down 4% from August 2011).
Co-headquartered in Austin, Texas, and Asheville, N.C., BuildFax, a division of BUILDERadius, maintains a national database of historical building permit data. It also operates a proprietary property intelligence engine that contains building and permitting information from more than 4,000 cities and counties throughout the country.