close_menu
Latest News

KIRO Radio's Tom Kelly digs deep into the Puget Sound real estate market

Real Estate

Rising home equity sparks move to remodel

Home remodeling saw greater demand in the third quarter as a growth in home equity and home sales prompted more homeowners to tackle remodeling projects, according to the National Association of Home Builders' home remodeling index.

The remodeling market index moved higher in the third quarter rising two points to 57 - the highest reading since the first quarter of 2004. A reading above 50 indicates that more remodelers are reporting market activity is higher than lower.

"The growth in home equity and home sales prompted homeowners to remodel as they prepare to move or undertake upgrades that they put off during tough times," said NAHB Remodelers Chairperson Bill Shaw.

All three major components measured in the NAHB remodeling index increased during the third quarter: major additions and alterations, minor additions and repairs, and maintenance and repair.

Hear Real Estate Today on KIRO Radio

  • Hear Real Estate Today on KIRO RadioJoin Tom Kelly every Sunday at 9am on KIRO Radio to talk Puget Sound real estate.

Real Estate Photo Galleries

Comments

comments powered by Disqus
close_menu
Latest News