Americans To Spend $232 Billion On Home Remodeling In 2007
Americans will spend
nearly $233 billion on home remodeling this year, according to the National
Association of Home Builders' 2007 industry forecast.
"Remodeling continues to show strength despite the housing slowdown," said
NAHB Remodelers Chairman Mike Nagel, CGR, CAPS, a home remodeler from Chicago.
"With more than 120 million homes in the United States plus $11 trillion in
owner equity, the demand for remodeling will be there now and in the future."
Remodeling currently accounts for more than 40% of the home construction
industry by dollar volume.