The BuildZoom & Urban Economics Lab Index -- a collaborative effort with MITÕs Center for Real Estate -- has new insight on the housing recovery. The numbers show modest but continued growth in new home construction, alongside a complete recovery of existing home remodeling that has slightly slowed down.
* 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 index web page shows an expansive list of charts chronicling the latest findings. Check it out HERE.