Friday, December 4, 2009

 

The Return Of Remodeling - Nesting Trend Means More Business for Home Improvement Companies

Home Improvement professionals were among the hardest hit people in this recession, but a new trend is starting to mean more business for this very group. That trend is called "Nesting" and its the opposite of the old Flipping trend.

From CNNMoney:

If flippers were the poster children of the real estate boom, then nesters are becoming the icons of the new housing market.

"We saw a nesting reaction after 9/11, but we're seeing a stronger nesting reaction now," said Bob Peterson, president of ABD Design/Build in Ft. Collins Colo. People who have the money are fixing up what they have."

A proportionally bigger share of the home construction dollar -- 20% more during the first three quarters of 2009 compared with the same period last year -- now goes to home improvements, according to the U.S. Census Bureau. In October, remodeling spending increased 8.7% compared with September to an annualized rate of $114 billion.

For New York General Contractors and Interior Designers, this is a very good sign indeed.

Sources:

Remodeling Activity on the Rise (CNNMoney)

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Comments:
I hope this will help these companies turn things around. most of them have taken a massive hit with the economy.
 
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