The overall U.S. housing market still is struggling to hit its stride, but the remodeling market meanwhile has fully regained its mojo, according to a report released Thursday by the Harvard University Joint Center for Housing Studies.

Kermit Baker, director of the centers remodeling futures program, forecasts that spending in the U.S. remodeling market will grow by 4% to 5% this year to at least $330 billion, spanning work on both owned homes and rentals. Thats a slower growth rate than in previous years of the recovery, but it would be enough to make 2015 the richest year for remodeling spending of the past 15, surpassing the previous high point of $324 billion in 2007.

The market is largely recovered, Mr. Baker said. It will resume growth at its historical level, which has been (an average of ) just about 5% year over year for the past 30 years. The main reason: A similar easing of home-price appreciation. The median resale price of existing homes last month of $209,500 marked a 6% increase from a year earlier. In comparison, the increase in 2013 was nearly 10%. Homeowners are less likely to push ahead with an ambitious, pricey renovation if their home equity isnt growing as rapidly anymore.

Another factor sapping a bit of momentum from the robust remodeling market is that homeowners dont have as much motivation now as they did in previous years to install energy-efficient windows, doors and other features in their house, Mr. Baker said. Part of that is because federal tax credits for such improvements have waned. An additional influence is that energy costs, particularly for gas for heating homes, have declined markedly in recent months.

Still other factors will have the opposite effect, keeping remodeling spending from reversing course. Mr. Baker notes that more Baby Boomers are remodeling as they opt to stay in their long-time homes and equip them with handrails, elevators, first-floor bedrooms and other aging-in-place features.

Meanwhile, the remodeling market has listed in recent years toward bigger-ticket, discretionary jobs, including kitchen and bathroom upgrades. The share of overall remodeling spending attributable to such discretionary projects accounted for 30% of remodeling spending on owned homes in 2013, up by roughly a percentage point from 2011, Mr. Baker said. He anticipates that share will continue to grow this year, though he hasnt forecast a specific percentage.

The increase in discretionary remodeling is mostly due to home price appreciation since 2012, Mr. Baker said.

Spending on home improvements and housing prices almost perfectly relate; About 1% of the value of a home is used on home improvement, he said. Prices have come back up, so we think spending came up with that.

Mr. Baker compiled his figures on remodeling spending based on data from the Commerce Department, the Department of Housing and Urban Development and Harvard research.

Anthony Carrino, a partner in Jersey City, N.J., contractor Brunelleschi Construction and a host of remodeling shows on Scripps Networks Interactives HGTV network, says he has seen customers spending more ambitiously in the past year.

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Remodeling Market Has Regained Its Mojo, New Report Says

Villalba Homes General Contractor | Kitchen Remodeling Cape Coral FL
Villalba Homes General Contractor | Kitchen Remodeling Cape Coral FL.

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Design-Built Custom Kitchen Remodel in Aliso Viejo Orange County By APlus
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Tour of Custom Design Build Kitchen Remodel in San Clemente by APlus
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Home Worx: Choosing Sinks To Match Your New Countertops
Complete your kitchen remodeling with sinks that will shine in your new countertops.

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Springfield, VA (PRWEB) January 27, 2015

Reico Kitchen & Bath, the premier distributor of kitchens and bathrooms in the Mid-Atlantic region with 21 locations throughout Virginia, Maryland, North Carolina, Delaware and Pennsylvania, has been awarded Best Of Houzz for both Design & Customer Satisfaction by Houzz, the leading platform for home remodeling and design. In business since 1952, Reico Kitchen & Bath was chosen by the more than 25 million monthly unique users that comprise the Houzz community from among more than 500,000 active home building, remodeling and design industry professionals

The Best Of Houzz award is given in two categories: Design and Customer Satisfaction. Design award winners work was the most popular among the more than 25 million monthly users on Houzz, known as Houzzers. Customer Satisfaction honors are determined by a variety of factors, including the number and quality of client reviews received in 2014. Winners display a Best Of Houzz 2015 badge on their profiles, helping Houzzers around the world to learn even more about Reicos popularity and satisfaction rating among their peers in the Houzz community. The badges for quality of work and satisfaction affirm Reicos goal, To make your kitchen and bathroom project a positive and easy experience.

We are honored to be recognized by the users of Houzz for a third consecutive year, says Jim Grace, Director of Marketing at Reico Kitchen & Bath. Houzz has found a formula to pull it all together in a way that works and we are very committed to using it to share our work and ideas with clients from all over the world.

Houzz provides homeowners with a 360 degree view of home building, remodeling and design industry professionals, empowering them to engage the right people and products for their project, said Liza Hausman, vice president of industry marketing for Houzz. Were delighted to recognize Reico Kitchen & Bath among our Best Of professionals as judged by our community of homeowners and design enthusiasts who are actively remodeling and decorating their homes.

Follow Reico Kitchen & Bath on Houzz

About Reico Kitchen & Bath For 60 years, Reico Kitchen & Bath has been the premier distributor of kitchens and bathrooms in the mid-Atlantic region with 21 stores covering VA, MD, DE, PA and NC. Despite being the largest kitchen and bath distributor in the country, the success of Reico is structured around earning the business and appreciation of their clients. Reico Kitchen & Baths goal is to have every customer feel confident recommending them. Reico offers full turnkey service, providing cabinets, countertops, appliances, installation and everything else for a kitchen or bathroom project. Come to where the professionals have trusted their own businesses to since 1952, and watch Reico bring the dream of a new kitchen or bathroom to life. For more information visit http://www.reico.com.

About Houzz Houzz is the leading platform for home remodeling and design, providing people with everything they need to improve their homes from start to finish - online or from a mobile device. From decorating a room to building a custom home, Houzz connects millions of homeowners, home design enthusiasts and home improvement professionals across the country and around the world. With the largest residential design database in the world and a vibrant community powered by social tools, Houzz is the easiest way for people to find inspiration, get advice, buy products and hire the professionals they need to help turn their ideas into reality. Headquartered in Palo Alto, CA, Houzz also has international offices in London, Berlin and Sydney. For more information, visit http://www.houzz.com

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Reico Kitchen & Bath Receives Third Consecutive Customer Service Best Of Houzz Award and First for Design

Tub, Tile, and Countertop Resurfacing 716-381-5607
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Kitchen Remodeling in Northern Virginia

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Kitchen Remodeling in Northern Virginia - Video

Another holiday season has passed, and with it the marathon cooking and baking sessions. The hours spent using every kitchen appliance and inch of counter space had a potential benefit more lasting than a good meal: When we really use our kitchens, we discover what does and doesnt work in this very important room.

Remodeling a kitchen can be expensive and challenging, but you can make substantial cosmetic changes with just the help of a painter and electrician, says interior designer Betsy Burnham of Burnham Design in Los Angeles. And if youre ready for even bigger changes, its still possible to stay on budget and create a gorgeous kitchen with a minimum of stress.

Step one is deciding what really needs to be done. Can you work with the appliances and cabinets youve got, or is it time for a full-scale remodel?

Step two is the budget, coming up with a realistic estimate for each expense.

Then, the fun can begin. Three areas where a little improvement can go a long way:

Storage

A smoothly functioning kitchen has space for everything to be stored away, within reasonable reach. Can you achieve that with your current cabinets? If so, designer Brian Patrick Flynn of Flynnside Out Productions suggests keeping them and just replacing or refinishing the doors.

Cabinetry installation adds a lot to a budget, he says, so saving by simply reusing what youve got can be a massive help.

If your cabinet doors are stained wood, consider painting them. Then, change the hardware. Drawer pulls and cabinet door handles can make or break the look of the space, says Lee Kleinhelter of the Atlanta-based design firm Pieces. Take time choosing new ones.

Flynn agrees: I always use high-end hardware regardless of how high or low my budget is, he says. Adding an interesting metal and finish to your doors just really adds character and uniqueness. You can never go wrong with dull black pulls and knobs, and Im also a huge fan of antique brass. When it comes to silver tones, I try to stay classic and go with polished nickel.

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Improving the kitchen in small or big ways

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