Western U.S. posts biggest gains in remodeling activity
The BuildFax Remodeling Index for March 2011 indicates that residential remodeling activity grew for the seventeenth straight month, according to a May 15 release from BuildFax, a division of BUILDERadius co-headquartered in Austin, Texas, and Asheville, N.C. The BFRI provides month-over-month and year-over-year comparisons of trends in remodeling activity for the entire United States, as well as for the four major regions of the country: Northeast, South, Midwest and West.
The March 2011 index shows that all regions except the Midwest posted year-over-year and month-over-month gains. The West posted the largest gains, up 22 percent year-over-year and 6 percent month-over-month. The Midwest saw significant drops, down 20 percent year-over-year and 5 percent month-over-month, perhaps due to a colder winter. The Northeast gained 4 percent year-over-year and 8 percent month-over-month, and the South improved 10 percent year-over-year and 9 percent month-over-month, according to the release.
"Significant improvements in the West continue to drive activity nationally to the best year in remodeling since 2006," said Joe Emison, vice president of Research and Development at BuildFax, in the release. "Even though the Midwest saw a drop this winter, early data shows that remodeling in all regions will continue to prove out the economic recovery in 2011."