Home Remodeling Up, Except In Northeast
Home remodeling is on the rise in the United States, showing yearly gains in all regions except the Northeast, according to BuildFax, a North Carolina company that provides data on building permits.
Residential remodeling projects authorized by construction permits totaled 2.96 million in April, a 13-percent increase from March and a year-over-year jump of 8 percent, BuildFax said.
But in the Northeast, the number of permits filed in April grew by only 2 percent in March to 507,000, and fell 25 percent year-over-year. All other regions showed growth between April 2012 and 2013, including 22 percent in the South, 9 percent in the Midwest, and 4 percent in the West.
Home remodeling in the Northeast has been trending downward for several months, BuildFax Chief Technology Officer Joe Emison said in a statement.
"Volatility in residential remodeling activity has continued through the first four months of 2013, with April showing significant gains from March in all regions except for the Northeast, where activity has been steadily dropping for more than six months," Emison said.
Emison did not speculate as to why remodeling has slowed in the Northeast, and a spokeswoman at BuildFax couldn't be reached for comment immediately.
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