2010 to mark significant rebound in remodeling industry, index predicts
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GOLDEN, Colo. -- February 17,
2010 -- ServiceMagic.com found that during the fourth quarter of 2009,
homeowners actually increased their number of home remodeling service requests
by more than 37 percent over the same period in 2008, according to its
nationwide Q4 2009 Home Remodeling and Repair Index. Furthermore, the report
showed tremendous spikes in home improvement activity in the states with the
highest foreclosure rates.
Interestingly, the four of the
states hit hardest by foreclosures in 2009 (Arizona, California,
Florida and Illinois) displayed incredible growth in the
number of additions and remodels that took place. Requested home additions and
remodels in Miami increased a massive 110 percent more than
the same quarter in 2008. Core projects in the kitchen also increased:
166 percent in Phoenix
120 percent in Chicago
112 percent in San Jose, Calif.