CRS recently send out this information about remodeling. It is quite interesting!
Remodeling activity held steady during the first quarter of 2008 after a 4 percent decline in 2007, according to the latest National Association of Home Builders' Remodeling Market Index (RMI). The index also shows that remodeler expectations for the coming quarter remain low. While some markets continue to perform well, many contractors are seeing smaller jobs and have a shorter backlog of business, which contributes to their low confidence.
NAHB chief economist David Seiders says he does not expect the remodeling market to recover any time soon. "The remodeling market continues to show weakness, following the downturn in the overall housing market. We expect there to be some further erosion in 2008 with a gradual recovery in 2009,"
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