The kitchen and bath industry has been hit pretty hard in the past few years. We’ve commented on it, tried to instill operational changes to help you get through it and overall, it looks like business is starting to pick back up for our industry. CNBC published an article last week, Housing Recovery Spurs Pickup In Remodeling, and they noted that homeowners are starting to come out of their spending freeze and beginning to renovate their homes. The article talks about the upswing in the housing market allowing homeowners to put money back into their homes, but also allowing new homeowners to renovate homes that have been on the market for awhile.
“All those homes that have gone through foreclosure or short sales are now coming back on the market,” said Kermit Baker, a senior fellow at the Harvard Joint Center for Housing Studies. “In a lot of cases these properties have been abandoned for the last few years. So you’ve got some properties in pretty tough shape.”
A light at the end of the tunnel?
This may be the light at the end of the tunnel that we have all been waiting for. Homeowners are ready to take on the projects that they put off when the market crashed and it’s time for you all to step in and make that happen. Those who are studying the industry see that older homeowners are fixing up homes for their retirement, some are looking to create more energy efficient spaces, and then there are those homeowners who are still feeling the effects from Superstorm Sandy. There are plenty of opportunities for our industry to get back to the top of their game according to this article.
For the full article, Housing Recovery Spurs Pickup In Remodeling, click here.