The BuildFax Remodeling Index for May 2011 reported that despite high unemployment rates and falling home prices, remodeling activity has reached a new high. The index, released July 18, was reported to be up 22% with a value of 124.3 for May, the highest number since the index’s introduction in 2004. Furthermore, BuildFax reported, May marked the 19th straight month for year-over-year gains in the remodeling industry. Consumers, the data show, are continuing to invest in remodeling and are choosing to remodel rather than purchase new homes.