North American Building Inc

Buidling your dreams into reality, concept to completion

Residential Building & Design

Serving Neighboring CT, MA & RI

Usefull Resources

 

More Homeowners Choosing to Spruce Up Rather Than Sell

According to "U.S. News"

Consumers have been feeling a little more confident about their finances lately, and that's translated into an uptick in home remodeling over the past several months, according to recent data.

After being in the post-recession doldrums, the number of Americans spending cash to spruce up their homes is recovering, according the National Association of Home Builders, and it's not just fixing a sagging gutter here or a broken patio paver there.

 

The associations latest remodeling Market index rose to about 47, a big improvement from the quarter before, but just under the 50 benchmark, which indicates healthier demand for remodeling projects.

"There are a good number of people who are doing minor additions in the $10,000 to $25,000 range," says Nissa Hiatt of NAHB. "They might not be doing the entire floor of the house, but maybe [adding] the kitchen that they've always wanted."

"People have been putting off doing things to their house and are ready to bust loose so to speak," Hydeck says. "Now it seems people are a little more attuned to the fact that things are getting better and looking into fixing the house."

According to the latest data from the Bureau of Economic Analysis, of the almost $330 billion spent on residential construction last year, almost half was spent on home improvements.

The most popular remodeling projects are still kitchens and bathrooms, Hydeck says, but consumers are being more cautious than they have in the past when committing to renovation projects with big price tags.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  1. Some Residential Housing Markets Flourish in 2014
    Published on: Sun, Jan 26, 2014 at 3:44 PM | Viewed: 83 times.
    By Hans Centena It's been a cliche to hear that the US construction market has been in a rollercoaster ride during the past years. Despite the ups and downs, McGraw-Hill Construction noted that there are some segments in the construction markets in America that are believed to shape up in 2014. McGraw-Hill...... Read Full News
  1. Prices of Construction Materials Remain Firm During Holidays
    Published on: Sun, Jan 26, 2014 at 3:39 PM | Viewed: 34 times.
    By Hans Centena According to the Department of Labor, prices of construction materials grew slightly by 0.1% last December or up 1.3% year-on-year. Materials used in non-residential construction likewise increased by 0.1% for December, which is 1% larger than year-ago levels. The Chief Economist of...... Read Full News

Please check back as we are updating this info.