* Remodeling of existing homes has fully recovered since the housing bust, and is 2.8% above its 2005 level. In contrast, new home construction is recovering gradually and remains 57.0% below its 2005 level. * However, year-over-year, residential new construction increased by 18.7%, while residential remodeling remained at the same level as a year ago. * The BuildZoom & … [Read more...]
The BuildZoom & Urban Economics Lab Index: First Quarter 2015
* Remodeling of existing homes is an indicator of economic health whose importance is on par with new home construction, and which better captures consumer confidence. * Remodeling of existing homes has fully recovered from the housing bust, and is 3.4% above its 2005 level. In contrast, new home construction is recovering only gradually and remains 60.7% below its 2005 … [Read more...]