According to a recent Metrostudy report (the Hanley Wood division that provides primary and secondary market information to the housing and residential construction industry), the remodeling industry is solidly on its way back: As reported in JLC's sister publication, Remodeling, in the last year the remodeling and replacement activity nationwide grew 5.5% to produce its best showing since before the housing boom.
“Growth through the first two quarters of 2015 is much stronger than what was observed in 2014, when the overall housing market had cooled,” Brad Hunter, Metrostudy's chief economist, said in a statement. “A big driver of recent remodeling activity has been solid job gains, but the industry stands to benefit even more over the next year from existing home sales hitting an eight-and-a-half year high at the end of second quarter. Stronger resales benefits remodeling activity, as recent homebuyers typically spend more on home improvements than other homeowners. Continued home price appreciation is also encouraging people to put money into their homes.”
How's it feel in your business? Is the industry back? What are your indicators, and how far do you think the recovery still has to go?
