Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Home Remodeling Expected to Pick Up
Jan 28, 2003
 Printable format
 Email this Article
 Search

Despite a boom in new construction and some recent sales softness, the home remodeling business will accelerate in 2003 and pick up momentum through the end of the decade, analysts say. "We may see a bit of a pause" in the 2003 first quarter because of the uncertain economy and international situation, said William Apgar, senior scholar at Harvard University's Joint Center for Housing Studies. "But there is a strong outlook for remodeling just as there is a strong outlook for housing" this year.

The U.S. $214 billion a year home improvement industry grew about 2 percent in 2002 and will double that this year, Apgar said. Though a slower growth rate than the 8-10 percent gains made in 2000 and 2001, these are solid increases in light of weak job growth and flagging consumer confidence, said Kermit Baker, senior research fellow and Apgar's colleague.

"There already is some evidence of mild acceleration as we move into 2003," Baker said. The Harvard economists spoke Friday at the International Builders' Show sponsored by the National Association of Home Builders.

Expenditures to improve, maintain, and repair the nation's 119 million homes totaled $214 billion in 2001, or 2.1 percent of the nation's total economic activity, which the NAHB said is bigger than the commercial real estate business or the amount spent on public works. Nationally, remodeling is increasing its share of total residential investment and now equals about 40 percent. (Chicago Tribune)

Back to Daily News

 

Daily News

...........................................................

Jul 31, 2014: LG Home Appliance, LG Air Conditioning See Lower Quarterly Sales

Jul 31, 2014: AHAM Canada New Chair is Doell of Samsung Electronics Canada

Jul 29, 2014: Jarden Reports Record Net Sales in 2Q

Jul 29, 2014: LG USA Names VanderWaal to Head Marketing

Jul 29, 2014: Smart Meters May Provide An Entrance Point for Cyber Attacks on the Connected Home

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows