Rather than trade up, owners that remain in their homes to keep their low mortgage rates are upgrading their existing units. As owners make a longer-term commitment to staying in their current homes, they are more likely to undertake certain improvement projects.

Homeowners who deferred maintenance and improvements during the recession are starting to spend more freely.

Long-term expansion of the remodeling market is an unmistakable trend, and a relatively healthy economy will assure future growth in the industry. The U.S. home improvement trend is making it's biggest come-back since the government began tracking spending in the early 1960's.

As the economy moves towards a sustainable recovery, house prices should stabilize and slowly trend up. Remodeling and upgrading your current home or business is a great option.



A New Decade of Growth for Remodeling, Joint Center for Housing Studies of Harvard University report