Remodeling industry fundamentals are generally beginning to turn positive. Sales of existing homes are on the rise and home price declines are moderating in most markets across the country. Financing costs are also favorable, according to the Harvard studies group.
The home improvement and remodeling industry should be a bright spots in the housing sector in 2010. As homeowners regain confidence in the housing market they are looking to increase their spending on existing homes. A rise in existing home sales should also add to spending by homeowners on upgrading new purchases.
Remodeling projections will range from simple spruce-up and painting projects, to new kitchens and baths, on up to home additions, projects that got put on hold during the housing downturn. It’s good to see this signal of renewed confidence.
