Remodeling on the Rise, Not Home Sales

Here is some great information about why it may be a good time to love the home you are with!

Excerpts:

NEW YORK, April 21 (Reuters) – U.S. home improvement spending is expected to rise 5 percent in the United States in 2010, but the surge might not foretell an increase in sales of new homes.

But an American Express Co (AXP.N) survey found that only 5 percent of homeowners are preparing their homes for sale and that 53 percent see a seller’s market at least two years away.

The majority – 53 percent – of the projects involve indoor remodeling, with cosmetic work (36 percent), re-doing a room (25 percent), and installing new flooring (14 percent) topping the list.

“It’s clear from this month’s survey findings that Americans’ most prized possessions are their homes and they are committed to continuing to enhance its appearance and value in spite of the softer real estate market,” said Pamela Codispoti, American Express senior vice president and general manager, Cardmember Services.

She added that homeowners are doing so responsibly by funding the projects “within their financial means.”

Sources:  ecreditdaily.com, reuters.com

The URI to TrackBack this entry is: https://agirlcandoit.wordpress.com/2010/04/22/remodeling-on-the-rise-not-home-sales/trackback/

RSS feed for comments on this post.

One CommentLeave a comment

  1. […] This post was mentioned on Twitter by Keith Veseleny, Bren Veseleny. Bren Veseleny said: Remodeling on the Rise, Not Home Sales: http://wp.me/pSJdu-1w […]


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: