'Healthy Rebound' for Home Remodeling Expected in 2010, as Economy Improves by ProQuest


"With house prices showing modest gains in most markets and the employment outlook beginning to stabilize, owners are likely to refocus attention on home improvements," [Kermit Baker] said. "Home sales are trending up, which shows growing confidence in the housing market."

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									           Barometers             A look at key statistics & trends shaping the industry

  Housing Recovery Gradually Taking Hold                                                                 Housing Decline & Recovery
  A steady recovery is gradually taking      OH-based industry research firm.
                                                                                                         Impacting Various Market Sectors
  hold across most sectors of the            While decelerating from the 2003-
  residential construction industry,         2008 pace, advances will still be
  including the kitchen/bath market,         “quite healthy,” as worldwide building                         % of Architects Reporting Sector Improving
  the latest economic figures reveal.        construction spending and economic
  Among the key statistics and forecasts     activity rebound from several years
                                                                                                              Minus % Reporting Sector Weakening
  released by government agencies,           of slow growth. In the U.S., building
  research firms and industry-related        construction expenditure growth will                                          2005 2006                2007        2008 2009
  trade associations in recent weeks         accelerate through 2013 “because the                                             Q4          Q4           Q4           4
                                                                                                                                                                   Q4          Q4
  were the following:                        country experienced the effects of the
                                             financial crisis at a much earlier date”
  HOUSING STARTS                             than other nations, The Freedonia              Entry-Level                    -25%         -41%
                                                                                                                                           %          4%
                                                                                                                                                    -64%         -65%
                                                                                                                                                                 -6 5%
                                                                                                                                                                     %        -4%
  Despite continued gains in nationwide      Group said, adding that nearly all
  housing starts, the anticipated            spending gains for plumbing products
  housing recovery continues to face         will be concentrated in the residential        Trade-
                                                                                            Trade-Up                          %
                                                                                                                            -8%            %
                                                                                                                                        -12%         4
                                                                                                                                                    -4 5%
                                                                                                                                                    -45%          71%
                                                                                                                                                                 -71%         31%
  “considerable headwinds,” including        sector.
  a shortage of credit for housing
  production “that is stifling new           APPLIANCE SHIPMENTS                             ustom /Luxu
                                                                                                 m u
                                                                                            Custom /Luxur y
                                                                                            Custom/Luxury                   -1%
                                                                                                                            -1%          +5%
                                                                                                                                         +5%          15
                                                                                                                                                     -15%        -5 2%
                                                                                                                                                                 -52%         4 %
                                                                                                                                                                             -4 4%
  development in reviving markets,” the      Domestic shipments of major home
  National Association of Home Builders      appliances posted their first increase
  said last month. The Washington,           in months in April, according to
                                                                                              wnho s ond
                                                                                            Townhouse Cond
                                                                                            Townhouse/Condo                +19%
                                                                                                                           +1 %
                                                                                                                           +19%          -2%
                                                                                                                                         -2%        -3 4%
                                                                                                                                                       4%        -6 6%
                                                                                                                                                                  6 %         4 6%
                                                                                                                                                                             -4 6%
  DC-based NAHB was, nevertheless,           the Association of Home Appliance
  encouraged by the latest round of          Manufacturers. The Washington,
                                                                                            Second Homes
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