We recently rolled out our remodeling trends dashboard are excited about the feedback we’ve received. Our goal has been to provide the general public with a macro-level perspective on what is happening in the remodeling and construction industry throughout the US.
This week, we took a closer look at the Arizona remodeling industry, which has shown growth over the past two quarters since hitting a 10-year low in Q4 of 2011. In fact, in Q2 of 2012, the total number of new licenses issued was only 8% below the 10-year average.
To gain a more contextual perspective on the remodeling industry in Arizona, we overlaid the Zillow Home Value Index (the median valuation for the homes in the state according to Zillow) for the state over the past 10 years.
Although remodeling license activity follows a similar trend over time, we can see that it has outperformed the trend in housing prices over the past 10 quarters or so. It’s possible that some of the growth has resulted from a federal stimulus package that accounted for nearly $7.75 billion, spread throughout 6,791 awards.
Across the board things seem to be looking up for Arizona, and it’s about time. Whether it’s contractors or new home builders, everyone in the housing market has to be happy with the recent news.
Good news that you are still doing so much efforts. I hope you will bring more statistics and news about the remodeling and construction industry of US. Arizona’s reports was successful one. We expect more on it.