Glimmer of Hope for the Remodeling Industry in the Southeast
According to the latest Remodeling Market Index and recent news releases from the National Association of Home Builders, the economy continues to take a toll on both the housing and remodeling industries across the nation. While the numbers from third quarter 2011 were somewhat bleak throughout the U.S., indicating that remodeling activity remains slow under current economic conditions – there was a bit of silver lining for the remodeling industry in the South. As the housing market in Georgia struggles to find its footing once again and builders continue to remain hopeful with reported new home sales up 12,9% in the South in November 2011 (even in the face of a drop in the number of building permits, which were down 11% year over year in the third quarter) – it’s apparent that more and more homeowners are either making the choice to remain in their current home or feeling as though they cannot move at this time due to lackluster house values on resales. That may have a hand in the increases in current market conditions and future market indicators for the remodeling industry in the South.
Current market conditions coincide with three major components, including major additions, minor additions, and maintenance & repair. Regionally, current market conditions were up in the South and the Midwest – but down in the rest of the nation. Future Market Indicators – which are comprised of calls for bids, amount work committed for the next three months, backlog of remodeling jobs, and appointments for appraisals – were down everywhere else in the country, but showed marked improvements in the South. What does this mean for Southern homeowners? It could mean that the momentum is building, and there is safety in numbers. As more and more homeowners apply for loans and begin investing in their homes again, the wheels of progress will begin rolling forward once more. The proud people of the South can set the tone for the rest of the nation.
Award-winning, Georgia-based Highlight Homes welcomes the opportunity to help you with the design and implementation of a stunning renovation of your home. Together, we can not only create something wonderful – we can help the local economy and set the tone for the rest of the nation at the same time! To schedule a no-obligation consultation today, contact Highlight Homes’ talented design-build team by phone at 678-873-9234, via e-mail at email@example.com, or through our convenient online contact form. Sign a contract with us before January 30, 2012, and your name will be entered into a random drawing for an Apple® iPad2! For inspiration, we invite you to take a peek inside our online portfolio. To learn more about Highlight Homes, please visit our website at www.highlighthomesga.com.
Credits: “New Home Sales Rise for Third Consecutive Month in November” NAHB (December 23, 2011) http://www.nahb.com/news_details.aspx?newsID=14444“Remodeling Activity Remains Slow Under Current Economic Conditions” NAHB (October 27, 2011) http://www.nahb.com/news_details.aspx?sectionID=122&newsID=13812
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