American Mortgage Blog

Builder Activity: New Houses Versus Remodeling

By Mortgage Blog on 8/1/2011 10:43 AM
Two press releases recently turned some heads in the lending and housing industry. First, home builders’ sentiment is showing some signs of life, although it is still dragging. One official said, "The improvement in builder confidence in July is a positive sign that the outlook perhaps isn't quite as bleak as was feared in June.” At the same time, the BuildFax Remodeling Index (BFRI) which tracks building permits and construction starts indicated that May had the highest level of remodeling activity since the Index was first introduced in 2004! (The BFRI is derived from building and permitting information from 4,000 cities and counties throughout the country assembled by BuildFax, a division of BUILDERadius.)
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