FOR IMMEDIATE RELEASE
Contact: Jim Lapides
(202) 266-8451
jlapides@nahb.org www.nahb.org
NAHB CELEBRATES NATIONAL HOME REMODELING MONTH
WASHINGTON, May 9
Marking a record year for the remodeling industry, Americans spent an estimated $215 billion on residential remodeling in 2005, based on the National Association of Home Builders' (NAHB) analysis of recently released third-quarter remodeling spending from the U.S. Census Bureau. NAHB economists expect remodeling expenditures to grow by 13.2 percent, the largest increase in more than a decade, to a record $238 billion in 2006. Adding to its success, the remodeling industry is entering its peak season, with May marking National Home Remodeling Month.
The NAHB Remodelors Council kicked off National Home Remodeling Month with a teleconference featuring industry experts discussing the latest national remodeling trends and forecasts. David Seiders, NAHB's Chief Economist, and Vince Butler, Chair of NAHB's Remodelors Council and president of Butler Brothers Corporation in Clifton, Va., discussed growth in the remodeling industry as well the latest trends in residential remodeling, including remodeling to enhance a home's value and to accommodate aging-in-place.
"We have seen extraordinary growth in the remodeling industry over the past year, and we expect to surpass that in 2006," said Butler. "National Remodeling Month marks the start of the remodeling season, and we see this as an opportunity for our Council to remind home owners of the many resources we offer those looking to hire a remodeler."
Home remodeling offers numerous benefits to home owners who want to change their living environment without uprooting their family and moving. Home improvements can add more space for a growing family or older family member, improve energy efficiency and increase the resale value of the home.
"The most popular remodeling projects continue to be kitchens and baths, which usually get the most return on the investment," Butler said during the teleconference. "Home owners want to concentrate on the areas where they spend the most time."
Retirees, especially the baby boom generation, increasingly prefer to be able to "age in place" or continue living in their homes safely, independently and comfortably, regardless of age or ability level. To help the remodeling industry adapt to meet those specific needs, the Remodelors Council created the Certified Aging in Place Specialist (CAPS) designation. It is the only program that teaches remodelers how to modify homes for those who wish to age in place.
"The majority of our customers are baby boomers, although we are also seeing strong growth within the Gen-X market as well," Butler said during the teleconference. "People want to let their house adapt with their needs as they change over time."
The most critical decision home owners will make when embarking on a remodeling project is choosing the right professional for the job. Choosing a professional remodeler can save both time and money by ensuring that the job is done right the first time. Professional remodelers can ensure home owner visions are accurately translated into reality. They also understand that consumer comfort during the project and a successful completion depend on effective communication and follow-through and will guarantee quality with a warranty.
"During this busy time, home owners need to be particularly careful about unscrupulous contractors," noted Butler. NAHB offers guidelines on how to select a professional remodeler.
For more information on remodeling your home or finding a professional, visit
www.nahb.org/remodel.
Linear Mode
