Another strong year for residential remodeling should lie ahead, with projected actual growth of 4.8% in 2004. This translates to 2.5% growth after inflation, compared to a 3% increase from 2002 to 2003. Increases in personal incomes, low interest rates, and record numbers of home sales will accompany the stronger economy and spur the industry.
Census data estimates show that expenditures for residential remodeling and repairs will total approximately $191.3 billion in 2004, up from $182.6 in 2003.
