Report: 10% of Americans Plan Move in 2012; 70% Plan to Spruce up Homes
Apr 3, 2012
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10% of Americans plan to move to a new home, condo, or apartment in 2012, according to the latest American Express Spending & Saving Tracker. 10.3 million adults plan on purchasing a new home, condor, or apartment. 9.9 million adults plan on renting.

70% of homeowners plan on some kind of home improvement project this year. They plan to spend $3500, on average - that's up $100 from $3400 in 2011.

Among all homeowners:
* 70% have home improvement plans for 2012 (up from 64% in 2011)
* 58% plan to remodel indoors (up from 55% in 2011)
* 35% plan to remodel outdoors (up from 29%)

Claire Bennett, EVP Loyalty & Membership Benefits, American Express, has not seen big changes in consumer confidence in the real estate market, but is seeing more consumer intent to spend on improvements. "Purchases of new furniture, appliances and even re-doing a room or outdoor space are all part of the upgrade equation," she said.

The types of home improvement planned among all homeowners:
* Cosmetic work, such as painting, furniture, or organization: 37% (it was also 37% in 2011)
* Redo a room indoors: 30% (up from 26% in 2011)
* Landscape property: 24% (2011: 22%)
* Install new flooring: 17% (2011:16%)
* Build or redo a deck or patio: 12% (2011: 9%)
* Upgrade systems such as electrical, heating, plumbing, etc.: 8% (2011: 9%)

Affluent homeowners (with household incomes over $100,000) plan to spend $5700 on their home improvement projects in 2012, down from $6200 in 2011. Among affluent homeowners:
* 72% have home improvement plans for 2012 (down from 73% in 2011)
* 61% plan to remodel indoors (2011: 64%)
* 40% plan to remodel outdoors (2011: 33%)

The types of home improvement planned among affluent homeowners:
* Cosmetic work, such as painting, furniture, or organization: 39% (2011: 43%)
* Redo a room indoors: 33% (2011: 30%)
* Landscape property: 31% (2011: 26%)
* Install new flooring: 17% (2011:16%)
* Build or redo a deck or patio: 11% (2011: 13%)
* Upgrade systems such as electrical, heating, plumbing, etc.: 8% (2011: 10%)

Appliance plans among all homeowners: 28% of homeowners doing home improvement in 2012 plan to buy appliances. The average spend planned for appliances: $705.

Other plans include new home accessories (37%, with an average spend of $170); new furniture (35%, with an average spend of $680); refreshing old furniture (19%, with an average spend of $140); and re-arranging furniture (15%, with an average spend of $87).

Appliance plans among affluent homeowners: 34% of affluent homeowners doing home improvement in 2012 plan to buy appliances. The average spend planned for appliances: $1195.

Other plans include new home accessories (46%, with an average spend of $375); new furniture (40%, with an average spend of $1101); refreshing old furniture (24%, with an average spend of $259); and re-arranging furniture (16%, with an average spend of $110).

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