Remodeling Industry to Continue Growth in 2011

From Kayla on July 21st, 2010 in Remodeling News

tape measure What 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

4 Responses to “Remodeling Industry to Continue Growth in 2011”

Jeffrey Zolnik Says:

September 23rd, 2010 at 3:38 am

The 2010 market for remodeling will continue to grow at a fast pace due to consumers weighing the facts that staying in your existing home will be more beneficial in the long run then building new.Most homeowners are willing to update their homes and not be tied down to a new mortage.All areas of existing home remodeling will benefit even more if the government adds a new tax credit for energy tax savings.This will provide contractors to hire the now,not busy new home sub-contractors that will look towards this area of construction to stay busy and keep their employees employed.

Chris Burrows Says:

November 1st, 2010 at 10:09 am

Kayla,

I was very impressed with the article about the EPA lead law for contractors making renovations to properties build before 1978.
My mission is to help contractors work through this reg. as efficient as possible, while limiting there liability. I am a contractor, building inspector, and lead paint inspector/ risk assessor in NJ.
I have some really go ideas I would like to talk to you further about.
Please contact me. Thanks, Chris

Remodeling Trend Skyrockets Thanks to Tax Credits | Calfinder Remodeling Blog Says:

December 8th, 2010 at 9:52 am

[...] construction has dropped every year for the last six years. Which means that, on the flip side, remodeling projects have skyrocketed in popularity as homeowners are working with what they [...]

Enest @ Chicago Home Builder Says:

May 4th, 2011 at 7:38 am

I totally agree with Jeffrey. Home owners are now practical to have renovations instead of buying a new house. It would be reasonable to add something or make changes instead.

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About the Author:

Kayla Albert
A freelance writer by trade and an artist at heart, Kayla is a spastic go-getter who likes to believe she is on the cutting edge of new trends in any arena. When she isn’t playing with words, she is most likely enthralled by some horrific reality show or reading a new self-help book. Before joining the fantastic CalFinder team, Kayla worked towards her bachelor’s degree in English Writing from the University of Colorado at Denver. She is committed to bringing a quirky edge to remodeling ideas and home design. You can also read Kayla's work at Confessions of a Perfectionist.