Homeowners will be up for spending more to spruce up their homes in late 2012 and on into 2013, according to a report released Thursday by the Joint Center for Housing Studies of Harvard University. The study cited low interest rates and an improved housing market for the projected surge in home improvement spending.
Nashville looks to be in step with this exciting national trend if recent home sales are any indication. Last month (September 2012) Music City home sales were up 23.7 percent from this time last year with 2,266 total home closings.
More home sales equal more fixer-uppers in need of fixing up. That wasn’t the case so much this past summer, but this winter—usually a down time for those of us in the home remodeling industry—is slated to be a busy one.
Joint Center Managing Director Eric S. Belsky explains: “After a bump in home improvement activity during the mild winter, there was a bit of a pause this summer. However, the LIRA is projecting an acceleration in market activity beginning this quarter, and strengthening as we move into the new year.”
We say, bring it on!