Residential Remodeling Numbers Flat in Most of Country

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The BuildFax Remodeling Index for October
indicates a slight slowdown in the number of building permits issued for the
purpose of residential remodeling from the previous month.   The number of these permits, however were
substantially increased compared to one year earlier. 

Permits issued nationwide in October were
at a seasonally adjusted annual rate of 3.993 million.  This is 4 percent below the revised September
estimate of 4.141 million.  Permits were
issued in October at a rate 10 percent above the 3.637 million in October 2013.

The year-over-year improvement in
permitting was observed to some extent in all four regions of the country.  However the only region in which there was a
substantial change in both monthly and annual numbers was the Midwest where
local building departments issued 851,668 remodeling permits, down 18 percent
from the previous month.  The number was
12 percent higher than one year earlier. 
In the Northeast there were 452,796 permits, down less than 1 percent
from September and up 2 percent from October 2013.  The South had 1.716 million permits, again
only a fractional decrease from the previous month but up 11 percent
year-over-year.  In the West there were
886,553 permits, down 1 percent from September but up 3 percent from the
earlier period.

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