A little commented on metric in recent weeks was a 30% year over year increase in housing starts. While that is impressive, home remodeling is up even more! Home remodeling is up 40% year over year and is at a multi-year high. To be sure while housing starts remain at a depressed level compared to pre-2008 crash levels, people are behaving rationally and investing in remodeling. It may be that families are using some of their cash hoard to invest in their current homes. The housing situation appears to be better than might be assumed from the headlines. Jeb Terry, Sr. Dec 28, 2011
Source: BuildFax Data Release: December 19, 2011 The Residential BuildFax Remodeling Index rose 40% year-over-year in October–for the twenty-fourth straight month of year-over-year growth–to 147.6. Residential remodels in October were up month-over-month 6.2 points (4%) from the September value of 141.4, and up year-over-year 41.7 points from the October 2010 value of 105.8.
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