Renovation spending has been rising for 15 straight years, reaching a record $63.4-billion in 2013. Three of every four renovation dollars are being spent on improvement, not repair.
CHBA’s Pulse Survey respondents report they expect stable activity for 2014, though 30% were expecting an increase. About half of renovator members say their average project size last year was under $25,000, while one-fifth said it was over $100,000.
CHBA recently released estimated impacts of home renovation and repair in 2013, available for many geographic areas at:
Read more about this trend:
‘HGTV effect’ pushes home renovation spending to record $63-billion – Financial Post