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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.
















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