Skip to main content

Growth reported by remodeling industry

As remodelers approach their busy season, overall current business conditions have seen steady increases since March 2012, according to a report from the National Association of the Remodeling Industry.

“Remodelers nationwide are not only experiencing increased activity right now, but many have a backlog of projects well into the fall,” association planning and research committee chairman Tom O’Grady said in a statement. “This current condition is worlds away from March of last year and suggests that the recovery is beginning to gain speed.”

Growth indicators in the first quarter of 2013 are as follows:

• Current business conditions up 1 percent since last quarter

• Number of inquiries up 4.9 percent since last quarter

• Requests for bids up 5.2 percent since last quarter

• Conversion of bids to jobs up 1.1 percent since last quarter

• Value of jobs sold is up 0.2 percent since last quarter

“Homeowners are tired of waiting to make improvements — many have chosen to stay put — and better financial positioning has them actively approaching professionals to get work done and enhance long-term livability of the home,” O’Grady said.

“We knew that several things had to turn around in order for business to get better and NARI members are finally feeling a holistic economic recovery outside and inside the housing market.”

Related Articles

Continued growth predicted for remodeling market

The robust pace of spending on home renovations and repairs is expected to stay strong over the coming quarters, according to the Leading Indicator of Remodeling Activity from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.