Home Remodeling Popularity Soars

home remodeling
home remodeling

Home remodeling activity increased by 22 percent in May from a year ago, marking the 19th-straight month of gains and rising to the highest level since BuildFax began tracking the data in 2004.

BuildFax combs through monthly building permit activity filed with local departments across the country. The company said that continued growth in these filings demonstrates that homeowners are still investing in their property, even as home values and prices continue to plunge.

"Through the first five months of 2011 we have seen impressive gains within the remodeling index and May has continued that trend with a record-setting month," said Joe Emison, vice president of research and development at BuildFax. "Even with the continued struggles in the economy, the remodeling industry has been a bright spot, as consumers look to make upgrades to their current homes, rather than purchasing a new residence.