Though it may seem homeowners are beginning to pull back on the remodel side of the market, better days are ahead. “Remodeling is slowing, but there’s a historic boom coming,” Eric Finnigan, VP of research & demographics at John Burns Real Estate Consulting, told Yahoo Finance in an interview. There are three factors likely to help this sector in the coming years according to Finnigan. With aging homes on the rise, it’s expected that the remodeling market will have 24 million homes in need of repairs such as upgrades to…
Read MoreDay: May 2, 2024
The Home Remodeling Market Trends and Dynamics to Reach $1,317.50 Billion by 2030
The home remodeling market size was valued at $852.10 billion in 2020, and is estimated to reach $1,317.50 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030, according to a new report published by Allied Market Research. According to EIN Newswires, Home remodeling projects are commonly categorized into two types: DIY (Do It Yourself) and Contractor-led. Among these, the professional segment, led by skilled labor, dominated the market in 2020. The market analysis encompasses various applications of home remodeling, including windows & doors, kitchen & bathroom, floor…
Read MoreRemodelers Reveal the Most Popular Type of Home Remodeling Projects
The National Association of Home Builders (NAHB) Remodelers released survey results on the most popular remodeling jobs by its members revealing that bathroom and kitchen remodels remain the most popular projects. “Whatever type of home improvement project consumers are looking for, NAHB Remodelers remains committed to professionalism and helping home owners create the home of their dreams,” said NAHB Remodelers Chair Mike Pressgrove, a remodeler from Topeka, Kansas. According to NAHB, Bathroom remodels were cited as a common job by 65% of remodelers, followed by kitchen remodels (61%). After baths…
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