Home Improvement Spending to Rise through 2010
Even small repairs can help. Photo Credit: Shuswap
After floundering for three long years, home improvement spending is likely to go up through the end of 2010. With this comes a better outlook for all those waiting for a little relief.
According to a new report released by Fitch Ratings, home improvement spending will see an increase of 3.5% by the end of the year. So, while homeowners are still exercising caution, all signs indicate that things are looking up.
Part of the reason, in addition to consumers feeling more comfortable investing in their homes again, are the tax credits being offered by the government for energy-efficient home improvement projects. Many people are hoping to cash in on the incentives while they are still available, while simultaneously cutting back on monthly energy costs.
With unemployment still high and credit hard to come by, large remodels seem to be simmering on the backburner. But at this point, any improvement over the past few years makes the light at the end of the tunnel shine that much brighter.
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