Shorewest Report: Remodeling is on the Rise

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Since the housing bubble burst, spending on home improvements decreased dramatically. Now that the housing recovery is in full swing, we are seeing homeowners start to spend on new remodeling projects. In fact, spending on home improvements increased 9% in 2012, the first increase since 2007, according to the Joint Center for Housing Studies at Harvard University.

Many people who hadn’t thought of selling during the housing slump have seen the growth and strength of the housing market return and have been thinking about selling soon. With prices climbing to attract sellers and record low mortgage rates attracting buyers, everyone can find a reason to be a part of the marketplace.

The National Association of the Remodeling Industry (NARI) says property owners are feeling more secure about their economic future. Many who are looking to sell think about remodeling their homes to fit high-tech and younger buyers. They’re using home improvements to increase their home’s valuable, improve salability and enhance their investment in their home. Tom O’Grady, chairman of NARI’s Strategic Planning & Research Committee, has said, “Remodelers are indicating major growth in the future, with saying that clients are feeling more stable in– their financial future and their employment situations; therefore, they are spending more freely on remodeling needs.”

There’s no better way to learn more about remodeling than at the upcoming Milwaukee NARI Spring Home Improvement Show, February 7—10 at Wisconsin State Fair Park. Over 330 home improvement and remodeling exhibitors in the Exposition Center will display information on the newest products, trends, and services for the home in more than 700 booth spaces. Embrace this growing trend by learning more about home improvement at the show!

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Categories: Home Improvement, Real Estate News, Upcoming Events

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