Sunday, November 27, 2022 | The Latest Buzz for the Appraisal Industry

Residential Remodeling Numbers Flat in Most of Country

By Jann Swanson

Posted To: MND NewsWire

The BuildFax Remodeling Index for October indicates a slight slowdown in the number of building permits issued for the purpose of residential remodeling from the previous month. The number of these permits, however were substantially increased compared to one year earlier. Permits issued nationwide in October were at a seasonally adjusted annual rate of 3.993 million. This is 4 percent below the revised September estimate of 4.141 million. Permits were issued in October at a rate 10 percent above the 3.637 million in October 2013. The year-over-year improvement in permitting was observed to some extent in all four regions of the country. However the only region in which there was a substantial change in both monthly and annual numbers was the Midwest where local building departments issued…(read more)

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