November 18, 2011
Northeast Misses September Remodeling Surge
An index that tracks the nation's remodeling industry rose by 34 percent in September, reaching its highest number yet.
But the Northeast is not faring as well as the Western and Midwestern regions of the country, according to BuildFax, which tracks building permit data.
While several other regions saw gains over the month and the year in September, the Northeast dropped 1.5 percent month-over-month and 4.7 percent year-over-year.
Homeowners are taking advantage of near record-low mortgage rates to refinance and invest in their properties, said Joe Emison, vice president of research and development at BuildFax.
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