Sagging home prices, tight credit, and consumer indecision trumped lower construction costs, sending the cost-to-value ratio to its lowest level in a decade.
Upscale consumers know it's a great time to buy property and remodel, but they are being more picky and want more for their money.
Three remodelers talk about how they are using the Cost vs. Value Report differently since the recession.
Replacement and repair jobs appeal to homeowners because they are relatively inexpensive and help a home hold its value.
Lower property values coupled with restrictive lending practices is leaving more remodelers with the bulk of their sales coming from customers who can self-finance.
Though overall construction costs haven't really decreased, consumers think remodeling is on sale, making for smaller margins and stiff competition.
Sign up for free enewsletters