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Remodeling spending expected to accelerate into 2016

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After several quarters of slackening growth, home improvement spending is projected to pick-up pace moving into next year, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA projects annual spending growth for home improvements will accelerate from 2.4 percent last quarter to 6.8 percent in the second quarter of 2016.

“Home improvement spending continues to benefit from the last years’ upswing in housing market conditions including new construction, price gains, and sales,” says Chris Herbert, managing director of the Joint Center. “Strengthening housing market conditions are encouraging owners to invest in more discretionary home improvements, such as kitchen and bath remodeling and room additions, in addition to the necessary replacements of worn components such as roofing and siding.”

“Although we expect remodeling activity to strengthen through the first half of 2016, further gains could be tempered,” says Abbe Will, a research analyst in the Remodeling Futures Program at the Joint Center.  “Current slowdowns in shipments of building materials and remodeling contractor employment trends, as well as restrictive consumer lending environments, are lowering remodeler sentiment and could keep spending gains in the mid-single digit range moving forward.”

Check out the press release with full size graphic here.

www.jchs.harvard.edu

Written by cabinettrends

October 26, 2015 at 7:00 am

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Closet America rises in top 500 remodelers list

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Local closet company moves up 18 spots in Qualified Remodeler’s 2015 Top 500 list.

D.C. metropolitan area closet company Closet America was recently recognized as one of the top remodeling companies in North America. The leading custom closet manufacturer is ranked #157 in Qualified Remodeler Magazine’s 2015 Top 500 Remodelers List. This year’s ranking marks an 18-spot improvement from 2014, when Closet America held the #175 position.

The Qualified Remodeler’s Top 500 list is the nation’s largest list of remodeling firms ranked by annual revenue. The rankings include a candidate’s involvement in various projects such as whole-house remodels, kitchen and bathroom remodels, insurance restoration, design-build services, and light commercial projects.

“We are grateful for the recognition by Qualified Remodeler,” said Closet America President Skip LaBella. “We owe much of our success to our focus on providing customers with exceptional service at every turn. That’s a hallmark of the Closet America experience, and we’re glad to serve as a model for the industry as a whole.”

www.closetamerica.com

Written by cabinettrends

September 25, 2015 at 7:00 am

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BIA Southern California Remodelers Council announces 2014 educational programs

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The BIA Southern California Remodelers Council announced its upcoming educational programs and business building opportunities for 2014.  The BIA-SCRC 2014 will begin the year with the Title 24 Remodel Standards Seminar on Jan. 30, 2014, at the S.C. Gas Co. Energy Resource Center in Downey, Calif. Continental breakfast will be served at 8 a.m., and the seminar will begin at 8:30 a.m. and end at 12:00 p.m.

California’s Building Energy Efficiency Standards are updated on an approximately three-year cycle. The 2014 Standards will continue to improve upon the current standards for new construction, additions and alterations to residential as well as nonresidential buildings.

Members and other interested parties may join the council at the first board meeting of the year, which will also be held at S.C. Gas Co. Energy Resource Center in the Energy Options Room following the seminar.

In February, the International Builders Show NAHB Annual Tradeshow will be hosted Feb. 4-6, 2014, 9 a.m. to 5 p.m., at the Las Vegas Convention Center in Las Vegas.

Additionally, the So-Cal Remodelers Council is offering multi-state certified courses in the areas of Marketing & Communication Strategies for Aging & Accessibility (CAPS I)  on Feb. 13, 2014, Design/Build Solutions For Aging & Accessibility (CAPS ll), Feb. 14, 2014, and Business Management for Building Professionals on Feb. 15, 2014. The location for the courses is Keystone Pacific Property Management, Ascendore Room, Irvine, Calif.

The courses are designed for remodeling, building and construction professionals looking to expand their industry knowledge and stay on top of industry trends to find more financial success. In addition to California statutes, these courses are also approved for continuing education for other contractor’s state licenses.

The Caps I course will help professionals take advantage of one of the fastest growing market segments in remodeling and related industries: maturing Americans are looking to revitalize their home environments. Learn best practices in communicating and interacting with this evolving population, as well as identify opportunities and develop skills to interact with 50+-year-old customers to help grow business.

The Caps II course will help attendees understand the guidelines and requirements of accessibility, the importance of doing an assessment with input from occupational and physical therapists as well as qualified healthcare professionals, and the significance of good design in making modifications that can transform a house into a safe, attractive and comfortable home for life.

The Business Management for Building Professionals course is designed for the new or experienced business owner. This course will give attendees a solid foundation for managing small to medium-size building/remodeling and service companies.

To register for courses or membership visit http://socalremodeling.org.

Written by cabinettrends

January 1, 2014 at 7:00 am

Survey of remodelers shows business conditions continue to increase in second quarter

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The National Association of the Remodeling Industry’s second-quarter Remodeling Business Pulse data show current and future remodeling business conditions continue to rise, as quarter-over-quarter increases are seen in nearly all sub-components measuring remodeling activity. Remodelers are reporting the highest overall rating on overall business conditions at 6.31, up from 5.97 reported during the first quarter. This rating has steadily increased in the six quarters NARI has been tracking thus far.

“This summer, many companies entered the summer with a backlog of jobs, which is something most haven’t seen in the past few years,” says Tom O’Grady, chairman of NARI’s Strategic Planning & Research Committee and president of O’Grady Builders, based in Drexel Hill, Pa. “What’s also positive is that the inquiries and bid requests are still steady, which provides some more market stability for remodelers.”

Growth indicators in the second quarter of 2013 are as follows: • Current business conditions up 5.7 percent since last quarter • Number of inquiries up 4.7 percent since last quarter • Requests for bids up 3.3 percent since last quarter  • Conversion of bids to jobs up 4.6 percent since last quarter • Value of jobs sold is up 5.9 percent since last quarter

This trend is expected to continue, as remodelers predict that three months out, their sales will be nearly as strong, down an expected 1.3 percent from last quarter. The top two reasons for growth continue to be postponement of projects (up 5 percent to 87 percent) and improvement of home prices (up 6 percent to 65 percent), with economic growth as the number three reason at 49 percent (up 7 percent).

“As consumer confidence has increased, so has the confidence of the remodeling community,” O’Grady says. “It appears that everyone has finally settled into this ‘new normal’ economic picture, and more bids are turning into remodeling projects, and at higher price points.”

Visit www.nari.org to view more of the data.

Written by cabinettrends

July 29, 2013 at 7:00 am

NARI members lead remodeling industry, Member Profile Study says

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Members of the National Association of the Remodeling Industry (www.nari.org) continue to lead the industry in terms of sales, production and employees, according to results of the 2012 NARI Member Profile Study, conducted by Fred Miller, president of Consumer Specialists.

The data, which provides a snapshot of NARI remodelers, show slight growth in the number of company locations, in-house design work, dedicated salespeople and types of services offered. The data show other signs of improvement in the remodeling industry:

• NARI members reported a 14 percent boost in average sales, with 38 percent reporting more than $1,000,000 in annual sales •Future sales are expected to be as good or better in 2013 by 93 percent of NARI members

• More than one remodeling service is offered by 82 percent of NARI remodelers • NARI members reported an increase in number of employees, with a 3 percent rise in dedicated sales employees

“Though the recession took its toll on many small businesses, NARI members seem to have prevailed,” says Tom O’Grady, chairman of NARI’s strategic planning and research committee. “Many of us are taking time to refresh our operations and responsibilities in preparation for growth over the next couple of years.”

Written by cabinettrends

February 25, 2013 at 7:00 am

NARI names 152 Regional Contractor of the Year Award winners

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The National Association of the Remodeling Industry named 152 Regional Contractor of the Year, CotY, Award Winners from seven U.S. regions for its 2013 competition, of which 19 were team members.

The CotY awards program recognizes remodeling projects that are an improvement or addition to an existing structure, with the exception of the Residential Exterior Specialty category. The program also recognizes projects with universal design and ‘green’ elements through the Universal Design Project Recognition Program and Green Project Recognition Program.

Projects completed by NARI members between July 1, 2011, and November 30, 2012, were eligible for the competition. Judges within the remodeling industry selected winners based on each entrant’s binders, which include before-and-after photography and project descriptions. Judging focused on problem solving, functionality, aesthetics, craftsmanship, innovation, degree of difficulty and entry presentation.

The complete list of 2013 Regional CotY Award Winners is available at http://www.nari.org/media/releases/article.asp?SECTION_ID=2&ARTICLE_ID=1594&. The National winners will be announced and honored at NARI’s Evening of Excellence on Friday, April 12.

Written by cabinettrends

February 5, 2013 at 7:00 am

Houzz Best of Remodeling award granted to US Door & More

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Houzz, an online platform for residential remodeling and design, selected US Door & More Inc. as one of 2013’s “Best Of Remodeling” companies, according to DigitalJournal.com

The manufacturer of entry, interior, front, patio, and exterior doors holds an impressive track record of satisfied customers. Houzz’s more than eleven million monthly users selected US Door & More Inc. for the award.

Houzz grants the award in two categories: Customer Satisfaction and Design. For the Customer Satisfaction category, homeowner members rate their experience working with remodeling professionals. The site selected Design award winners based on a design’s popularity.

“Houzz provides homeowners with an in-depth, 360-degree view of building, remodeling and design professionals through images of their work, reviews and an opportunity to interact with them directly in the Houzz community,” said Liza Hausman, Vice President of the community.

“We’re delighted to recognize US Door & More Inc. among our ‘Best of Remodeling’ professionals for exceptional customer service as judged by our community of homeowners and design enthusiasts who are actively remodeling and decorating their homes,” she said.

Written by cabinettrends

February 4, 2013 at 7:00 am

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