Tuesday, January 25, 2011

Top 100 Remodeling Markets for 2011 Provided by Remodeling Magazine

Though the economy has been tough on the real estate market, House Doctors is poised for growth in 2011 by continuing to provide customers with great service and a professional finished product in a timely manner. In addition, while the real estate market may still be far from recovery, the remodeling industry is expecting to see an upswing this year and House Doctors has remained the market leader in the professional handyman segment and expect to see an increase in business this year.

In the article, Remodeling Magazine breaks down the top 100 remodeling markets. A portion of the article is included below and it can be read in its entirety by clicking here.

Top 100 Markets

Our first annual forecast of the 100 hottest remodeling markets
By:Sal Alfano

While new-home construction is still in the doldrums, there is evidence that remodeling has hit bottom and is poised for an upswing in the coming year. But remodeling activity is mainly a local phenomenon, and although the overall remodeling market responds to global and national economic trends, some markets are likely to rebound faster than others. The question is, which ones? Our Top 100 Markets list provides the first real answer.

The Top 100 Markets list is based on the Residential Remodeling Index (RRI), a unique new metric designed to provide insights into and forecasts of remodeling activity by market. (The RRI was created by Hanley Wood Market Intelligence, a division of the company that publishes this magazine.)

Issued quarterly and seasonally adjusted, the RRI “Composite Index” measures the overall level of remodeling activity nationally and in 366 metropolitan statistical areas (MSAs). The index essentially benchmarks the current level of remodeling activity, both nationally and in a given market, against activity in 2007, the baseline year. A number above 100 indicates a level of remodeling activity higher than the level of activity in first-quarter 2007, which was the peak of remodeling activity nationally in the prior decade.

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