Remodelers across the U.S. are increasingly upbeat about prospects in 2013, according to a forecast from the National Association of the Remodeling Industry (NARI).
All indicators in the association's fourth-quarter Remodeling Business Pulse are up from the third quarter, including current business conditions (2.1 percent), number of inquiries (3.9 percent), requests for bids (3.7), conversion of bids to jobs (3.5 percent) and value of jobs sold (4.3). The increase in business is coming more from homeowner necessity, on NARI member told the association. "Homeowners are still concerned about spending money but will do so because they cannot postpone any longer," the member said. "They are spending more conservatively than they did prior to the crash."
Among remodelers, expectations for 2013 are high, with 66.0 percent forecasting the first quarter of 2013 positively, 13.1 percent higher than the third quarter. Of the small segment predicting a decline in early 2013, 91.0 percent cited uncertainty of the future, with most respondents citing tax increases and leadership issues in Washington.
"Now that the election is over, consumer confidence is starting to grow and so has remodelers' confidence," said Tom O'Grady, chairman of NARI's Strategic Planning & Research Committee and president of O'Grady Builders in Drexel Hill, Pa. "NARI members are looking forward to having a well-deserved, productive year ahead."
