Friday, June 05 2009
A semi-annual survey of 5,000 home owners about their remodeling plans shows a 20 percent decline in the number of permits issued compared to the first quarter of 2008.
But RemodelorMove.com, which conducted the survey, also reports a bright spot: the number of home owners who will probably remodel in the next 12 months rose 5 percent in the first quarter of 2009.
Even though the cost to remodel has fallen an estimated 20 percent in the last year, 82 percent of respondents said price is their biggest concern and 89 percent of respondents are changing their remodeling plans because of the recession.
Source: RemodelorMove.com (06/02/2009)