Report: Fewer remodel homes, but more want to - Tampa Bay Business Journal:

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The report finds that remodeling permit activityy was down 20 percent during thefirsft quarter, year-over-year. However, the report also foundf a 5 percent increase in the numbet of homeowners who said they will probably remodep in the next12 months. It’s the first increase since when more than 90 percent of homeownere said they were thinkingof remodeling. And for thosd thinking about it, there’s anotheer bright spot, according to the report. The cost of remodelinv is 20 percent less than it wasin 2006. Eight-twpo percent said the cost to remodel is theirbiggesty concern.
Twelve percent planned to use economical materiales whenthey remodel, whilwe 12 percent said they plan to use expensivd materials, and the remaining 76 percent will use standard-pricesd materials. Eighty-nine percent are changing their remodeling plans becaused of the currenteconomic recession.