Today, we published our findings on the fastest growing local markets, as well as several that are in decline.
What has your experience been in the past year? Please specify the market you serve in your response.
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Demand in the remodeling business in Richmond, Va. has defimately been increasing. As the housing market continues to slump we are finding homeowners electing to do larger remodel projects; kitchens, baths and additions.
Here in Idaho remdels and new construction has taken a turn for the better. However, the prices are still low. We mainly do drywall patches and have seen an increase in larger jobs. A few major factors that play a role here are private owners bid shopping and hiring non-licesned or insured contractors.
Here in Phonix AZ things are definatly picking up. Owners that are upside down in their homes are fixing them up to make them more livible to their needs since they are having a hard time being able to get out from under them.
The Denver market seems to be REALLY picking up ! The remodel market is growing which tells me that people are finding loans easy as property values pick up. We do mainly storm restoration work so for my industry if your a qualified contractor in a storm prone state its recession proof. Though we are seeing many upgrades upon the claim loss.
Here in Downtown Chicago and North Chicago we have seen a major increase in leads and closes so through 2014. This could also be due to our website changes and marketing changes.
SF Bay Area RE market is booming and the demand for qualified contractors or skillmans are very high.
Boston area, leads are growing, owners are getting there homes remodeled, housing market is crazy for first time buyers. Owners are willing to hire unskiled & unexperianced contractors for the sake of saving money, at times they pay douple the cost. The work we are getting from word of mouth. Web site under construction, the buildzoom site got us some leads, but no contracts yet. Still working on that.
We are seeing an increase in refinishign and staining as well as a migration towards hardwood floors. Most people are OK with laminates and engineered flooring seems to be more desirable than solid flooring due to its resistance to moisture as well as more stability and better pricing.
As of today June 6, 2014 - outlook for Chattanooga TN - GREAT! We’ve been getting a lot of national attention lately as one of the hot spots to live with the addition of Amazon and The New VW plant here in our market. We have pioneered the launch of Fiber Optics which is fantastic. The technical job market here is strong. We are also being praised as a great place to retire although the family scene here is exceptional. As licened General Contractor and also licensed Realtor, it has become apparent that we are seeing growth in resales and also new construction sites are popping up everywhere. We’d say the new home projects have definitely shifted over the last couple of years for a high demand for small, well appointed homes - all one level. As the retirees choose Chattanooga and our baby boomers give up their McMansions, the type of product is hard to keep in stock. The growth here is expected to continue! Lots of remodeling is also evident in older subdivisions that are close to our downtown. People are investing money in updates because of close in locations. Its great to see new energy breathed in to some of the older sections. We are booming!