My Real Estate Blog

Spending stalled across the board in the housing market over the past few years. As lending tightened, many buyers found themselves foregoing moves and holding off on remodels.

That trend is changing, however, as consumer confidence returns and homeowners once again gear up for remodeling projects.

According to the National Association of Home Builders (NAHB), the remodeling market is heating up once again. It is now at the highest level in four years. "Home remodeling continues to slowly increase and continued growth through the year is expected." said NAHB Chief Economist David Crowe. "The fact that some indicators are breaking 50 means remodelers are seeing improving activity in their markets. While credit scarcity and economic uncertainty continue to weigh down remodeling, signs of increasing consumer interest are promising."

The breakdown of all current remodeling market indicators showed increases, from major and minor additions to maintenance and repair.

"Remodelers report a jump in activity so far this year and have been receiving more calls for work and appointments," said NAHB Remodelers Chairman Bob Peterson.

Increased interest in remodeling means increased revenue for local contractors and craftsman. This is welcome news for the country. Hopefully, as the economy recovers and buyers regain their confidence, more strides will be made in the housing industry.