WASHINGTON, DC - Los Angeles County, Calif., leads the nation in total county remodeling expenditures per year at $8.4 billion, according to the National Association of Home Builders. Tony Nantucket County, Mass., meanwhile, regarding remodeling dollars spent per household, ranks highest with a yearly average of $8,520.
"Residential remodeling is one of the housing industry's bright spots," said NAHB Remodelers Chairman George Moore Jr., who is also owner of Moore-Built Construction & Restoration Inc. in Elm Grove, La. "The level of remodeling activity varies by region and town, but home owners throughout the country are increasingly choosing to renovate their homes or build additions." In February NAHB's Index of Remodeling hit a five year high.
While the average value across all counties nationwide for total remodeling expenditures per year is $66 million, the following is a breakdown of top counties by region:
* West: Los Angeles County, Calif., $8.4 billion
* Midwest: Cook County, Ill., $4 billion
* Northeast: Nassau County, N.Y., $1.9 billion
* South: Miami-Dade County, Fla., $1.7 billion
The average amount spent on remodeling projects per household nationwide is $1,907. The top counties by region for remodeling spending per home:
* Northeast: Nantucket County, Mass., $8,520
* West: Marin County, Calif., $7,782
* South: Falls Church City, Va., $6,099
* Midwest: Cook County, Ill., $3,466
Renovation Rebound: Remodel Spend Outpacing New Homes
Updated: 01/20/2012 2:05:00 PM
Remodeling spending will outpace single family home construction in 2012, as homeowners embark on a home remodeling spending spree, say studies from Harvard and IHS Global.
Recovery in Remodeling for 2012?
Updated: 01/19/2012 1:51:00 PM
Home improvement spending was uneven and mostly sluggish for 2011, but a report by the Joint Center for Housing Studies of Harvard University suggests an improvement in remodeling by the end of 2012.
Have something to say? Share your thoughts with us in the comments below.