Qualified Remodeler Magazine

NOV 2018

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.

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fter several years of solid ac- celeration, annual growth in home improvement and repair spending is expected to soft- en in 2019, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. e latest in a series of Leading Indicator of Remodeling Activity reports, released last month by the Cambridge, Massachusetts- based Joint Center, projects that year-over- year increases in residential remodeling expenditures will reach a decade high of 7.7 percent in this year's fourth quarter, and then drift downward to a growth rate of 6.6 percent through the third quarter of 2019. "R ising mortgage interest rates and ‹at home sales activity are expected to pinch otherwise very strong growth in homeowner remodeling spending," says Chris Herbert, managing director of the Joint Center. "Low for-sale inventories are presenting a headwind because home sales tend to spur investments in remodeling and repair." Despite the expected declining growth rate, most remodeling market indicators— including home prices, permit activity and retail sales of building materials—continue to strengthen and will support above-aver- age gains in spending next year, the Joint Center noted. Slower Growth Expected for Home Remodeling MARKET OUTLOOK continued f MARKETING 'Offsetting trends' have impact on remodeling The nation's residential remodeling market ʱŸÆååĺ±ýåÏƋåÚÆƼŅýŸåƋƋĜĺčƋųåĺÚŸØ ƵĜƋʱŸŅƚĺÚåÏŅĺŅĵƼØĬŅƵƚĺåĵŞĬŅƼ- ment and easing lumber prices being ÏŅƚĺƋåųƱĬ±ĺÏåÚÆƼųĜŸĜĺčĜĺƋåųåŸƋų±ƋåŸ and an ongoing construction labor short- ±čåØƋĘåc±ƋĜŅĺ±ĬeŸŸŅÏĜ±ƋĜŅĺŅüBŅĵå ƚĜĬÚåųŸŠceBšŸ±ĜÚĬ±ŸƋĵŅĺƋĘţ ceBűŸĬ±ƋåŸƋåĵŅÚåĬĜĺča±ųĩåƋFĺÚåƻ ŠaFšŞŅŸƋåÚ±ųå±ÚĜĺčŅüĂíĜĺƋĘåƋĘĜųÚ ŧƚ±ųƋåųŅüƖLjŎíØųåĵ±ĜĺĜĺčŸƋ±ÆĬåüųŅĵƋĘå ŞųåƴĜŅƚŸŧƚ±ųƋåųţĘåaFØƵĘĜÏĘĵå±- sures both current and future remodeling ÏŅĺÚĜƋĜŅĺŸØʱŸÆååĺÏŅĺŸĜŸƋåĺƋĬƼ±ÆŅƴå ĂLjóĜĺÚĜϱƋĜĺčƋʱƋĵŅųåųåĵŅÚåĬåųŸ ųåŞŅųƋĵ±ųĩåƋ±ÏƋĜƴĜƋƼĜŸĘĜčĘåųÏŅĵޱųåÚ ƋŅƋĘåŞųĜŅųŧƚ±ųƋåųƋʱĺųåŞŅųƋĜƋĜŸĬŅƵåųó ŸĜĺÏåƋĘåŸåÏŅĺÚŧƚ±ųƋåųŅüƖLjŎƐţ "Remodelers are seeing homeown- åųÚåĵ±ĺÚųåĵ±ĜĺŸƋųŅĺčØŰŸ±ƼŸceB åĵŅÚåĬåųŸĘ±ĜųIŅ±ĺĺåĘåƚĺĜŸŸåĺţ ŮŅƋĘŞŅŸĜƋĜƴåĘŅĵåŞųĜÏåčųŅƵƋĘرĬÆåĜƋ ±Ƌ±ŸĬĜčĘƋĬƼŸĬŅƵåųų±ƋåرĺÚčŅŅÚÏŅĺ- ŸƚĵåųÏŅĺĀÚåĺÏå±ųåŸƚŞŞŅųƋĜĺč±ŸƋå±ÚƼ ųåĵŅÚåĬĜĺčĵ±ųĩåƋţŰ Affordability issues slowing down home sales Rising interest rates coupled with limited ĜĺƴåĺƋŅųƼ±ĺÚųĜŸĜĺčŞųĜÏåŸÏŅĺƋĜĺƚåƋŅüƚåĬ slippage in both new- and existing-home Ÿ±ĬåŸØ±ÏÏŅųÚĜĺčƋŅĬå±ÚĜĺčĘŅƚŸĜĺčĜĺÚƚŸ- ƋųƼƋų±Ú屟ŸŅÏĜ±ƋĜŅĺŸţ ŮeÚåϱÚåűŸĘĜčĘĵŅųƋč±čåų±Ƌ埱ųå preventing consumers from making ŧƚĜÏĩÚåÏĜŸĜŅĺŸŅĺĘŅĵåŞƚųÏʱŸåŸØ ŠƵĘĜĬåš±ýŅųÚ±ÆĬåĘŅĵåĬĜŸƋĜĺčŸųåĵ±Ĝĺ ĬŅƵØÏŅĺƋĜĺƚĜĺčƋŅŸŞƚųƚĺÚåųŞåųüŅųĵĜĺč Ÿ±Ĭ埱ÏƋĜƴĜƋƼ±ÏųŅŸŸƋĘåÏŅƚĺƋųƼØŰŸ±ƼŸ X±ƵųåĺÏå¥ƚĺØÏĘĜåüåÏŅĺŅĵĜŸƋüŅųƋĘå c±ƋĜŅĺ±ĬeŸŸŅÏĜ±ƋĜŅĺŅüå±ĬƋŅųŸŠcešØ which reported existing-home sales at ƋĘåĜųĬŅƵåŸƋĬåƴåĬŸĜĺÏåcŅƴåĵÆåųƖLjŎĂţ 埱ĬåŸØ±ÏÏŅųÚĜĺčƋŅƋĘåĬ±ƋåŸƋ±ƴ±ĜĬ±ÆĬå ĀčƚųåŸØƵåųåŞåččåÚ±Ƌ±Ÿå±ŸŅĺ±Ĭ- ĬƼ±ÚģƚŸƋåÚ±ĺĺƚ±Ĭų±ƋåŅüĂţŎĂĵĜĬĬĜŅĺ ƚĺĜƋŸØŅýĉţŎŞåųÏåĺƋüųŅĵ±Ƽå±ų±čŅØƋĘå •±ŸĘĜĺčƋŅĺØ%ţţěƱŸåÚceŸ±ĜÚţ Fĺ±ŸĜĵĜĬ±ųƴåĜĺØŸ±ĬåŸŅüĺåƵĬƼÆƚĜĬƋØ ŸĜĺčĬåěü±ĵĜĬƼĘŅĵåŸüåĬĬƋŅ±Ÿå±ŸŅĺ±Ĭ- ĬƼ±ÚģƚŸƋåÚ±ĺĺƚ±Ĭų±ƋåŅüĂĂƐØLjLjLjØƋĘå ĬŅƵåŸƋŸ±ĬåŸŞ±ÏåŸĜĺÏå%åÏåĵÆåųƖLjŎƅØ e The "Legends of the Home Improvement Industry Awards" were presented Oct. 8 in Baltimore. Founded in 1999, the awards honor company owners with at least two decades of experience who have "contributed to the growth of the industry." Pictured are: (front) Ed Augustine, Anthony Nardo, Wayne Fredrick, Mitchell Spector, Dave Yoho, Brian Elias, Lee Wegner, Frank Farmer, Adam Kaliner, Joe Zisman. (back row) Terry Ferrero, Peter Bulger, Murray Gross, Mel Rosenblatt, David Moore, Jerry Beyers, Gordon Fairbanks, Ken Greene, Jim Felton, Larry Judson. This year's honorees were Ed Augustine, Brian Elias, Frank Farmer, Wayne Fredrick, Adam Kaliner, Anthony Nardo, Vince Nardo, Mitchell Spector, Lee Wegner and Joe Zisman. A Gathering of Home Improvement Legends 8 November 2018 QR QualifiedRemodeler.com IN BRIEF

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