Remodeling Industry to Continue Growth in 2011

From on July 21, 2010 in Remodeling News

tape measureWhat began as a slight upswing for the home remodeling market in 2010 may prove better than expected in 2011. Welcome news for contractors around the country? That’s an understatement.

According to the Harvard University’s Remodeling Activity index from their Joint Center for Housing Studies, home improvement is expected to reach $130 million by next year after seeing double-digit growth in the first quarter.

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So what initiated the growth? Experts believe it has something to do with a new optimism among homeowners. While they may have believed for the past few years that updating their home wasn’t worth the cost, many now trust that they’ll see a return on their investment, especially if they know how best to remodel for that investment. The market is also seeing a shift from smaller upgrades to larger remodels and renovations.

For now, the market will continue to rise steadily through the end of the year—music to the remodeling industry’s ears.

Photo Credit: GRCC