The BuildFax Remodeling Index for March showed building permits were issued at an annual rate of 2.781 million in March, up from 2.522 million in March 2011. Growth was strongest in the Midwest, with a 15 percent increase in the last 12 months.
The national total was down by 1 percent from the previous month, a drop BuildFax attributed an unusual spike during a warmer-than-usual February.
The index is based on permits for residential remodeling projects filed with local building departments. Permits are issued for both owner-driven projects and those by real estate investors rehabbing houses for resale.
Here is a regional breakdown of the report:
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