JOHN BURNS CONSULTING
JustAsWe Predicted… DUE TO A CALCULATION ERROR, THE CENSUS BUREAU HAS REVISED ITS RESIDENTIAL IMPROVEMENT SPENDING ESTIMATES.
by Todd Tomalak
The accompanying chart compares both sets of Census numbers with our prowprietary Burns Residential Repair and Remodel Spending numbers for the owner category. In the past 18 months, skepticism has increased toward the prior Census resi-
epair and remodeling spending grew 5 percent-plus last year, just as we predicted. On Jan. 4, the Census Bureau an- nounced a significant revision to its residential improvement spending esti- mates due to a calculation error. R
Based on our knowledge of the mar- ket, we are not surprised by the direc- tion of the revision. In fact, the restated Census growth curve looks a lot more like our Burns Residential Repair and Remodel Spending™ estimates, which we released back in September 2015.
REMODELING SPENDING GROWTH Trailing 12 Month
- Revised Census Remodeling Numbers • Prior Census Remodeling Numbers - Burns Residential Repair and Remodel Spending: Owner Occupied Companies
SOURCES :: US Census, John Burns Real Estate Consulting LLC, (Data Jan 2016) 2015 Census numbers are trailing 12 month totals through November
90 | think realty magazine | mar :: apr 2016
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