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