Industry News: Home Remodeling Set to Surge 13% with Kitchen Cabinets on the Web Taking the Lead
According to many recent reports from highly authoritative sources, remodeling seems to not only be on the mend, but set to surge this spring. In a fine home building article, The Joint Center for Housing Studies of Harvard University was cited as saying that home-improvement and remodeling is looking up for 2010 and spending nationwide “is likely to reach a cyclical bottom in the current quarter and steadily increase through 2010.
The Wall Street’s Journal’s Market Watch also reported in an article titled ‘Remodeling on the Mend’, that remodeling activity by U.S. homeowners, which has fallen more than 30% from its peak in 2007, is set to pick up again this year.
Qualified Remodeler reported that after a year of declines, there is a 13% increase in homeowners who plan to remodel in the next 12 months. Citing Remodeling Sentiment Report, this increase follows a 5% increase in last year's Spring 2009 report. Their report continued to suggest that the upward swing in remodeling sentiment indicates that 2010 will show a strong increase in remodeling activity.
Just a few of the interesting trends cited by Qualified Remodeler included a desire for consumers to find smart material sources like cabinets on the web; additionally as it relates to this news set, they mentioned that do-it-yourself projects, both the actual building as well as acting as their own general contractor, has remained steady throughout the economic downturn. Secondly, the number of homeowners reporting they are "excited" about remodeling has climbed to an all-time high of 54%.
For a homeowner looking to remodel their kitchen, the timing couldn’t be better as the cost now is as much as 20% lower than in 2006, according to a special cost to remodel study published earlier this year at www.remodelormove.com. Further savings can be gained as well for custom kitchen cabinets as they are available now direct from the factory.
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