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Big Freeze on Remodeling Amid Housing Market Heat Up

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Big Freeze on Remodeling Amid Housing Market Heat Up


January 16, 2020
Remodeling Industry
Carpenter installing cabinets and counter top in a kitchen. and partially installed By ungvar - Adobe Stock

It’s the dead of winter, and the housing market is taking off. Builders are celebrating, but one industry is getting left behind: remodeling. Due to low home sales last year, home remodeling is slowing down,  projected to only grow 1.5 percent instead of its usual 5 percent. But the freeze may just be temporary: If homebuying picks up in the coming year as it is expected to do, the remodeling industry should pick up again next year. But if not, the housing shortage provides a unique opportunity for remodelers as well: Potential buyers locked into their current homes may stay long enough to decide to design their dream home in a remodel instead of buying a new one.  

Watch the video to learn more.

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