Northeast Home Remodelings Up After Sandy
Residential remodeling projects authorized by building permits fell nationwide in December, although the Northeast was the only region of the United States to buck that trend, helped by the aftermath of Superstorm Sandy in late October, according to a report from BuildFax, a national building permit database.
Seasonally adjusted annual rates of remodeling projects in December were up 39 percent from November, and 37 percent from December 2011, to about 636,000, the report said.
"The last time the Northeast broke 600,000 estimated residential remodels was five years ago,” said Joe Emison, chief technology officer at BuildFax. “The rest of the country saw both month-over-month and year-over-year declines in residential remodeling activity."
Sandy was largely a hurricane until it began to lose strength after hitting the U.S. mainland in the mid-Atlantic and Northeast states, with lesser impacts in the Southeast and Midwest. The storm claimed nearly 300 lives.
BuildFax’s data, called its Remodeling Index, is based on construction permits for residential remodeling projects filed with local building departments across the country. The index estimates the number of properties permitted. The national and regional indexes are based on a subset of representative building departments in the U.S. and population estimates from the U.S. Census.
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