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Minneapolis and St. Paul both topped a recent list of the Top 20 Cities for Residential Remodeling by BuildFax. Minneapolis came in at number four with 10% of homes remodeled last year, with plumbing, roofing and mechanical being the most common types of work. St. Paul came in just behind Minneapolis at number five, with 8.5% of homes remodeled and electrical, plumbing and mechanical being the most common types of work.
According to BuildFax residential remodeling across the nation increased by 9% between December 2014 and December 2015, and has increased 40% since 2010.
“There’s no doubt about it. Across the US, we’re seeing a massive boom in residential remodeling, and some cities are off the charts. In Colorado Springs nearly 15% of homes were remodeled last year, and 12% in Orlando!” – said Holly Tachovsky, CEO at BuildFax.
One or more homes in every ten top city were remodeled in the last year in Colorado Springs, Orlando, Denver, and Minneapolis. People in these cities may be avoiding the housing market by remodeling, but they also may be remodeling in order to enter the market and earn top dollar.