We can all agree by this point that the turn around and positive growth of the home remodeling market will not take place at the same break neck speed with which the fall off began… but at the recent International Builders Show in Las Vegas, the consensus seemed to be that slow and steady growth was A-OK with Remodelers. Speaking with a panel of remodelers from across the country, the National Association of Home Builders’ Paul Emrath explained how the organization arrived at the current forecast.
“We are predicting slow and steady growth in remodeling activity throughout 2013 and 2014,” said Paul Emrath, NAHB’s vice president for survey and housing policy research. “That outlook is consistent with the indicators of future activity in our recent Remodeling Market Index (RMI) survey. Many remodelers are reporting increases in calls for bids and appointments for proposals, so now it’s a question of how quickly they can convert those calls and appointments into actual work.”
“Consumers want to create value by adding bonus spaces without building full additions to their home,” said Bob Hanbury, CGR, a remodeler from Newington, Conn. “As part of the economic recovery, professional remodelers are helping clients take advantage of their home’s hidden assets by remodeling basements, above-garage spaces and attics to fully take advantage of the size of the home.”
“Backlog was what we are all looking for, and that seems to be the current trend as people are moving forward with projects that they had been thinking about for some time,” said Ben Morey, CGR, CAPS, a remodeler from Signal Hill, Calif. “While the full teardown and rebuild market has not taken off, home owners are committing to projects that look for ways to create a new environment within the current floor plan of their home.”
Read the more about it here.
Remodelers: Have you already seen growth for 2013?