This story was originally published in Remodeling.
A particularly busy 2017 hurricane season has led to a sharp spike in home maintenance and remodeling activities, according a housing health report published by BuildFax, a company serving the insurance industry with building, remodeling, and repair data.
According to a release from the company, the pace of remodeling is increasing at progressively smaller margins. Data from the firm finds that remodeling spending leveled out for the third consecutive month after several years of steep increases. BuildFax COO Jonathan Kanarek said the dip in maintenance and remodeling activity is typical of a period following many natural disasters, consistent with the past year.
The BuildFax report found the annual rate of remodel volume had increased 2.39% in September. Additionally, remodeling spending increased at a year-over-year rate of 15.96%.
The study was conducted by examining properties in the U.S. over the past five years. Data was seasonally adjusted and imputed to reflect numbers representative of the entire country.
This story was originally published in Remodeling.
