Business

Remodeling work outpaces new construction

By Bill Moss, Published: April 18, 2014

Residential and commercial construction in the first quarter of 2014 came in under the first quarter of 2013 while the overall construction value, boosted by a surge in home remodeling work, ticked up by 5.2 percent, the Henderson County Building Inspections Department said.

Contractors in March received 25 permits for new homes and five for new commercial buildings. Year to date, builders pulled 60 permits for new homes, down 4.8 percent, and 10 for new commercial projects, down 23 percent. Residential remodeling work was up 33 percent, with 177 jobs, compared to 133 in the first quarter of 2013.
Overall, new construction value in the first quarter was $26 million, up 5.2 percent. Residential and commercial remodeling work, at $9.1 million, showed a gain of 4.8 percent.
Figures for the first three quarters of Henderson County's July 1-June 30 fiscal year also showed a decline in new construction permits but a modest gain in value overall.
New residential units were down by 16 percent — 267 new homes versus 317 for the same period of 2012-13 — and new commercial construction (30 projects this fiscal year) was down 30.2 percent.
Remodeling work again drove up overall values.
Residential remodeling and additions were up 13.2 percent in number of jobs and 56 percent in value, while commercial remodeling fell 18 percent in number but rose 23.1 percent in value.
Overall, for the first three quarters, all permits rose by 7 percent. New construction rose by 4.4 percent, to $78.7 million. Commercial and residential remodeling work showed a 35.5 percent gain, to $32.6 million.