Remodeling Grows; Superstorm Sandy's Impact Assessed

By Rich Christianson | Posted: 11/13/2012 11:19AM

 

DES PLAINES, IL — Remodeling increased 2.5% during the third quarter, according to the National Association of the Remodeling Industry (NARI), which is trying to assess the impact Superstorm Sandy will have on remodeling business moving forward.

“Overall, NARI members are experiencing an upswing; however, the future paints a more mixed picture,” sad Tom O’Grady, CR, CKBR, chairman of NARI’s Strategic Planning & Research Committee and president of O’Grady Builders in Drexel Hill, PA. “Hurricane Sandy’s destruction will likely spur more activity on the East coast.”

NARI's Remodeling Business Pulse data gathered via a national survey of members in September showed remodeling business was at its high point for the year. However, the pre-Sandy survey indicated that remodelers were worried about business dropping an average of 6.3% in the fourth quarter compared to the second quarter. Topping remodeler concerns were high uncertainty, unemployment and difficulty to acquire loans.

On the bright side, most NARI members participating in the survey reported feeling positive about inquiries, request for bids, bid conversions and value of jobs sold.

“Pent-up demand continues to be a huge contributor to home improvement activity, particularly in those who are choosing to stay in homes longer term,” O’Grady said. This long-term mentality is driving an expanding market in universal design and energy-efficient projects, but also shrinking a project’s size and cost, according to NARI.

Related Content
MasterBrand Finds Renewed Kitchen Remodeling Interest 11-10-12

Cabinetmakers, Remodelers In Demand for Massive Rebuild 11-1-12

Home Remodeling Index Jumps to 2005 Levels 10-25-12

 

About the Author

Rich Christianson

Rich Christianson is Associate Publisher and Editor at Large of Woodworking Network. During his 25+ years covering the wood products industry, Rich has toured hundreds of manufacturing plants throughout North America, Europe and Asia. His reporting has covered everything from the state of the industry and impact of wood imports to technology and environmental issues. In his current capacity he is responsible for editing the daily Woodworking Network Update newsletter and coordinating events including the annual Cabinets & Closets Conference & Expo and Canada’s biennial Woodworking Machinery & Supply Expo. He can be contacted at rchristianson@woodworkingnetwork.com or follow him on Google+.

Read more of Rich Christianson's blogs.


Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left

 

View all events >
FEB
01

Woodex

Teheran
DEC
03

IIDEX Canada

Toronto , ON
Search our database for woodworking equipment, supplies and services:

Select a category:


Feedback Form
Feedback Form