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Remodeling uptick expected in 2011

By way of the Daily 5 Remodel newsletter, we learn of a report that finds “Substantive growth in remodeling spending, coming off a three-year decline, seems likely in 2011,” according to the latest quarterly Leading Indicator of Remodeling Activity. The findings of that report are summarized in this release, which sums up the matter as such:

“Remodeling contactors are feeling much more positive about the outlook for home improvement projects,” says Kermit Baker, director of the Remodeling Futures Program at the Joint Center for Housing Studies. “Low financing costs and a wave of previously foreclosed homes coming back on the market and in need of renovation are expected to generate healthy growth over the next several quarters.”

The comments posted on the D5R article are equally positive, including this one, attributed to one Peter Feinmann:

We have seen a steady stream of potential clients looking to do work on their homes. And we are entering 2011 significantly better than we were entering 2010. The energy in our offices are much more vibrant compared to a year ago.

What are you seeing? How’s 2011 shaping up for your business?

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Categories: industry news, trends

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