The cost of home remodeling and repairs hit the highest level in a decade last year, according to a national tracking index.

Costs were up 3.6% year-over-year and rose by 83 basis points in the September-December period, according to the Verisk Remodel Index, which tracks the prices of 10,000 items from appliances to windows.

Remodeling costs are now 64% higher than at the start of 2015 and more than 70% higher than in 2013, the New Jersey-based data analytics company reported.

However, the pace of the price growth is now slowing down, said Greg Pyne, vice president for Verisk Property Estimating Solutions.  

“This was the second consecutive quarter where repair and remodeling costs across the county rose at a slower pace than the prior quarter,” Pyne said. “There’s clearly a trend in place that’s bringing price increases more in line with the rate of inflation.”

The costs of remodeling varied by region. Quarterly increases ranged from a low of 0.56% in the west north central region to 1.44% in the south Atlantic region, where prices were likely affected by Hurricanes Helene and Milton.

All regions had annual increases of 3% or higher, however, ranging from a low of 3% in the west south central region to a high of 4.7% in the south Atlantic region.

“Clearly the devastation caused by natural disasters had a significant impact on repair costs in the Southeastern states at the end of 2024,” Pyne said.

“It’s likely that we’ll see a similar trend in the Pacific region in the coming months as Southern California attempts to recover from the wildfires that destroyed thousands of homes in January.”