Modest Growth Predicted for Residential Remodeling in 2015
Residential remodeling is set for modest growth in 2015, according to experts at a recent press conference hosted by the National Association of Home Builders (NAHB) Remodelers at the International Builders’ Show (IBS). Remodelers appearing on the panel agreed with the forecast, citing homeowners’ changing demographics and increased financial security. The NAHB projects that residential remodeling spending on owner-occupied single-family homes will increase a modest 3% in 2015 over 2014, and another 1.5% in 2016.
“Remodelers are responding to calls from home owners on steadier financial footing than recent years,” said 2015 NAHB Remodelers Chairman Robert Criner, GMR, GMB, CAPS, CGP, a remodeler from Newport News, Va. “From major kitchen remodels and bath facelifts to room additions, the members of NAHB Remodelers look forward to providing professional remodeling services in 2015.”