Home | Newsletter | Advertise

Homeowners Renovating More, Moving Less

  • January 20th 2012

by Shilpi Paul

✉️ Want to forward this article? Click here.

Homeowners Renovating More, Moving Less: Figure 1
Courtesy of The Wall Street Journal

For the first time in years, homeowners have increased the money that they are putting toward renovations, reported The Wall Street Journal this morning.

Home renovation spending increased (by 3.3 percent) in 2011, the first uptick since 2006. While owners are generally shying away from major projects like additions, they are landscaping, buying new kitchen cabinets or installing new lighting, willing to spend a little after a few years of general austerity.

From The WSJ:

“People are remodeling instead of moving,” said David Crowe, chief economist at the National Association of Home Builders.

The rise in home-improvement spending comes as the economy and consumer confidence are picking up. It is giving the construction industry an outsize boost because new home building—which normally accounts for more than half the market by dollar value—remains severely depressed by historical standards.

See other articles related to: renovation, renovation financing, the wall street journal

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/homeowners_renovating_more_moving_less/4960.

Pipeline: New Condos & Apartments Coming to the DC Area

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse