As reported today by LBM Journal, remodeling spending rose 11% in 2012. According to the U.S. Commerce Department, home improvement spending throughout the nation is estimated to total $126.3 billion in 2012, up from $114.0 billion in 2011. Click here for chart. This critical component of the residential sector has not been this strong since 2007. Read the whole story at CEPro.com.
Perhaps it’s pent-up need that is causing homeowners to finally begin spending again to remodel their homes. Those who had been waiting to see how the economy would impact them, have finally waited as long as they could to do required work on their homes. For some that may mean needing a new roof, while others may finally be ready to replace windows. With the popularity of home improvement shows, people are also seeing what is possible not only for kitchens, but for other family gathering areas of their home and are being inspired to renovate their homes in the increasingly popular style of an open floor plan. Fortunately for the remodeling industry, many homeowners know what they want, but realize that they are not able to do the work themselves.
We’re seeing a strong trend in the online research of products such as cabinetry. Remodeling contractors, are you finding that your customers are better educated about products than in the past? We’d like to hear about your real life experiences with homeowners, and what you would like them to understand about the remodeling process. Drop us a note!