DES PLAINES, IL — Remodeling business conditions continue to soar, with current and future plans growing robustly, according to the National Association of the Remodeling Industry (NARI).
“The general sense is that consumers are tired of waiting and feel more secure about spending money, which is also reflected in the higher values in jobs sold,” says Tom O’Grady, president of O’Grady Builders, Drexel Hill, PA, and a member of NARI's statistical committee. The group issues the quarterly Remodeling Business Pulse - a survey of NARI members - from which the latest trends are drawn.
Entering into the holiday season, which has been a slower season in recent years, remodelers are reporting the highest overall rating on business conditions at 6.41, up from 6.31 reported during the second quarter. This rating has steadily increased in the six quarters NARI has been tracking.
“From the comments on the Remodeling Business Pulse survey, pent-up demand continues to drive the current remodeling market,” says O’Grady.
When asked about factors most significant to their business, 85% of remodelers cited projects postponed by clients. Improving home prices came in as singnificant for 72% of respondents, up from 65% last quarter.
“Weather continues to impact sales regionally,” O’Grady says.
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