National Home Remodeling Month in May has even more reason to be celebrated locally as the remodeling industry remains strong in our area over a year into the pandemic.
In fact, the remodeling market has benefited as a direct result of the pandemic. Despite lingering supply-side challenges, confidence in the remodeling market continues to increase, according to a recent NAHB survey.
Though the market sputtered at the onset of COVID-19, remodeling activity quickly roared back. Nearly half of remodelers reported 50% of their projects were a direct result of the pandemic, according to a recent NAHB survey.
“The remodeling market took a hit last year at the start of the pandemic, but it’s completely turned around now,” says NAHB Remodelers Chair Steve Cunningham. “Remodelers are now facing intense backlog on projects due to supply chain delays, continued labor shortages and an abundance of project leads.”
A desire for better amenities was cited as the most common consumer motivation for remodeling, followed by a need to repair or replace older components, and a desire or need for more space.
Moreover, as home prices and interest rates rise, many would-be homebuyers are instead opting to stay put and make improvements to their current homes. Especially among older homeowners, aging-in-place and universal design projects are becoming increasingly popular.
“The pandemic along with the unfortunate Easter storms in 2020 definitely increased the home improvement industry locally,” says JB Millworks owner and HBAGC member Jeremie Price, “and the market has remained strong in 2021.”
NAHB’s survey found that bathrooms and kitchens continue to top the list of the most common remodeling projects. Among all projects, 74% were primarily bathrooms, while 67% involved kitchens.
“As homeowners continue to make modifications to their homes, it’s important that they do their research and hire a qualified professional,” says Cunningham. “Whether it’s a small project or a whole house remodel, a qualified professional remodeler can help homeowners create a space that works for them.”
To find a dedicated professional remodeler to trust with your bath, kitchen or other home renovations in the Chattanooga area, visit the membership directory at www.HBAGC.net.