Home remodeling maintains post-recession high for month of February

By Kyle Chezum Updated on 9/25/2013

For the third consecutive month, the home remodeling sector of the market has experienced an uptick with a seasonally adjusted number of 2.89 million projects in February, according to the BuildFax index. Unlike the other segments of the housing market, remodeling is up 3 percent from a revised January total, as well as up 23 percent from this time last year. January’s original total was approximately 3 million, according to BuildFax, however, the total was adjusted to 2.81 million. Remodeling remained popular across the country, experiencing increases in all four regions for both monthly and year-earlier figures. The northeast experienced the largest increase with 24 percent from January and 33 percent from February 2011.

The number of remodeling projects holds greater figures than other residential construction markets nationwide – as well as holding increased post-recession totals. According to the Commerce Department, the total amount spent on residential buildings barely changed for the month of February from January of this year, remaining below housing-boom levels. Furthermore, a survey recently released by the National Association of Home Builders (NAHB,) showcased a disappointing fact that home builder sentiment has experienced a downfall for the month of April.