Qualified Remodeler Magazine

FEB 2015

Qualified Remodeler helps independent remodeling firms to survive, become more professional and more profitable by providing must-have business information, namely best business practices, new product information and timely design ideas.

Issue link: http://qualifiedremodeler.epubxp.com/i/469630

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Page 32 of 60

redicting remodeling activity is imprecise, at best. But that does not stop a whole host of interested par- ties, including this magazine, from trying. In fact, in this our annual compendium of numbers relating to remodeling, we draw from many sources, including you, our readers, to attempt to ofer a consistent and whole view of what is a very localized business comprised of several vertical markets. Why the need for so many inputs? Because the government simply does not track remodeling data with the same frequency and detail as it does home building or commercial building. And today they collect less of it than they did in decades past. Terefore, more data points are needed to get an accurate picture. In 2007, the Census department cut funding for collecting data on repairs and improvements on rental units. Much of what we know as hard facts about remodeling comes by looking backward Recovered. Now, Steady Ahead Rapid growth in '14 moderates in '15 as long-term indicators stay positive. By Patrick L. O'Toole, Editorial Director / Publisher P Qualified Remodeler readers are bullish about 2015 with nearly 80 percent saying it will be a good or excellent year for remodeling. The size of the remodeling market has rebounded strongly and is now likely back at peak levels that exceed $300 billion annually. The increase in owner improvements in 2013 was particularly pronounced. The Rebound in Homeowner Improvement Spending Has Lifted the Remodeling Market Back Near $300 Billion n Owner Improvements n Owner Maintenance n Rental Improvements n Rental Maintenance Note: Tabulations of 2013 data use JCHS-adjusted weights. For more information about the re-weighting methodology, see www.jchs.harvard.edu/research/improving-americas-housing. Sources: JCHS tabulations of US Dept. of Housing and Urban Development (HUD), American Housing Surveys; US Department of Commerce Surveys of Expenditures for Residential Improvement and Repairs (C-50); and Abbe Will, Estimating National Levels of Home Improvement and Repair Spending by Rental Property Owners, JCHS Research Note N10-2, October 2010. What is your outlook for remodeling in 2015? Source: Qualified Remodeler Forecast Survey, 2015. 33.9% Excellent 45.7% Good 19.7% Fair 0.8% Poor 2001 2003 2005 2007 2009 2011 2013 132 134 188 226 189 180 192 34 37 43 46 47 50 52 25 32 31 32 34 30 31 23 25 18 20 21 27 23 214 228 280 324 291 281 298 Continued on 34 PROFITS: Remodeling Market Forecast 2015 32 February 2015 QR QualifiedRemodeler.com | ForResidentialPros.com

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