Residential remodeling projects dipped in March but remained at elevated levels, according to BuildFax.
The seasonally adjusted, annual index measured by building permits fell 1% from a month earlier to 2.78 million. February’s total was adjusted downward as well to 2.81 million from an initially reported 2.89 million.
March’s remodeling levels still rose 10% from estimates a year earlier, maintaining its level near post-recession highs.
By region, only the Northeast saw projects fall from March 2011, down 9%. The BuildFax index also dropped 22% from February for the region.
The South and Midwest, meanwhile, both saw monthly and yearly increases of 3% and 10% in the South and 3% and 15% in the Midwest.
Two other markers of home construction and projects, also released Tuesday, marked positive growth. Homebuilder confidence reached a five-year high in May, according to the National Association of Home Builders, while Home Depot (HD) reported a 27.5% boost in quarterly profit, according to Forbes.
