Remodeling Franchise Finds Market Good For Business

This market is good news for a remodeling franchise. The latest quarterly report by the National Association of Realtors® shows median home prices continuing to rise in the majority of metropolitan areas in the second quarter.The improving housing market means more home improvements because confidence is returning and homeowners are again interested in maintaining and improving their properties. This increased interest in home improvements has led to many of our remodeling franchisees seeing double digit gains already this year.

Direct link between rising home prices and increased spending on remodeling projects.

The improving housing market has a positive effect on many home improvement businesses. For example at House Doctors we see a direct link between rising home prices and increased spending on remodeling projects.The NAR data shows the national median existing single-family home price was $203,500 in the second quarter, up 12.2 percent from $181,300 in the second quarter of 2012. In the first quarter the median price rose 11.3 percent from a year earlier.
For an area by area comparison see the NAR map http://www.realtor.org/topics/metropolitan-median-area-prices-and-affordability/data showing median prices across the US.

Homeowners realize that a remodel can be a good way to increase the value of a home in a growing market. One way of getting a cost versus value comparison of remodeling projects in different areas of the country is to use a tool available from Remodeling Magazine. The tool compares the National average cost for 35 popular remodeling projects across the country with the value those projects are expected to retain at resale.