Fixing up the old homestead
One interesting side effect noted when the real estate market slows and people stop actively searching for a new home is the increased activity level seen in home improvements. The rationale being if people stop buying houses, they tend to concentrate on improving the house they have.
The website mygoals.com has noted an increase in that trend as we move into 2007. Mygoals.com found that in 2006, 30% of all real estate-related goals were to buy a home, with 45% looking to improve their current home. Moving into 2007, only 9% of real estate goals involve buying a home, while an amazing 64% plan to improve existing homes.
The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) also supports the survey’s findings. Remodeling activity picked up in the third quarter of 2006. A fact that leaves many professional home remodelers across the country jumping for joy.
Popularity: 40%