Are you planning to remodel your Knoxville home in 2012? According to a report released by the Joint Center for Housing Studies of Harvard University, remodeling activity in the United States should start off slow at the beginning of the year but pick up by the third quarter.
The Leading Indicator of Remodeling Activity (LIRA) reports that after a slow start to 2012, remodeling activity should trend up as the year progresses. If this trend continues past the third quarter, 2012 should end on a very positive note, something that is needed for the industry.
Predicted remodeling activity for Q1 2012 is $108.1 billion, the lowest total over the past couple of years. However, activity is expected to hit $113.6 billion by Q3 2012, which would be the biggest total in more than a year. This figure would be a five percent increase over the current projection for the first quarter.
As the real estate market continues to pick up throughout 2012, we can only expect remodeling activity to do so as well as home sellers look to remain competitive in their markets. If you are planning on remodeling your Knoxville home to increase your chances of selling it in 2012, call Coldwell Banker Wallace & Wallace, REALTORS today for professional assistance.
Image via Joint Center for Housing Studies of Harvard University
