SUNNYVALE, Calif. (SEND2PRESS NEWSWIRE) -- RemodelorMove.com's U.S. Remodeling Activity Report(TM), a sampling of remodeling permits in the U.S., was issued for the second quarter 2009 today, revealing an increase in remodeling activity in certain regions of the U.S. for the first time in more than a year.
According to RemodelorMove's Remodeling Activity Report, the value of remodeling projects in the U.S. increased in the second quarter over the first quarter of 2009. The size of these projects is the most notable change-the average expenditure by homeowners in the sampled regions for permitted remodeling projects was more than 20 percent greater than spent in the same quarter of both 2007 and 2008.
The report's authors said, "This increased activity was not surprising, however, as predicted by the Spring 2009 Remodeling Sentiment Report, which reported a 5 percent increase in the number of homeowners who reported they were likely to remodel in the next 12 months."
According to research, recent government stimulus packages, rebates for energy efficient remodels and steep reductions in overall remodeling costs have encouraged many homeowners to begin remodeling projects in the second quarter of 2009 that were previously on hold.
According to the report, the Northeast and Southwest regions of the U.S. show the most signs of improvement in remodeling expenditures during the second quarter of 2009 compared to the same quarter in 2008. The rest of the country has yet to see much of a recovery, while remodeling in the Southeast remains in decline.
The release of RemodelorMove.com's forward-looking Remodeling Sentiment Report next month will provide additional insight on the strength and duration of the economic recovery as it relates to the U.S. home remodeling market through the end of 2009 and 2010.
RemodelorMove is the online resource for homeowners deciding whether it is best to remodel current homes or to move. In partnership with www.remodelestimates.com, RemodelorMove.com provides information and uniquely accurate cost-comparison calculators, forums, seminars, and advice for homeowners.
Rights granted for reproduction by any legitimate news organization. However, if news is cloned/scraped verbatim, then original attribution must be maintained with link back to this page as “original syndication source.” Resale of this content for commercial purposes is prohibited without a license. Reproduction on any site selling a competitive service is also prohibited. Information is believed accurate, as provided by news source or authorized agency, however is not guaranteed, and you assume all risk for use of any information found herein/hereupon. This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.
5600 times (1 today, 12 this week, 32 this month, 133 this year)