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Industry Trends

Cabinets & Countertops

Excerpt:
“Uncertainty in the housing market continues to stifle spending on homeowner improvements,” says Nicolas P. Retsinas, Director of the Joint Center for Housing Studies.

According to the report, Americans are expected to spend $109.6 billion on home improvements in the third quarter of 2009, down from $113.2 billion in the second quarter of 2009.

In fact, home remodeling spending has seen steady declines since the middle of 2007, according to the report.

“While we may be nearing the bottom of the remodeling cycle, there is little to push spending back into a growth phase until the economy recovers,” explains Kermit Baker, Director of the Remodeling Future Program of the Joint Center.

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