1-in-7 California homeowners plan to remodel, but what states have more? – OCRegister

Folks are moving less and fixing up their homes more.

And 1-in-7 California homeowners plan to begin a home renovation in the upcoming year, according to a new survey.

Research by GetHearth.com, a startup remodeling advice website, found 15 percent of Californians have plans to fix up their home in the next year. Thats just behind the 16 percent of U.S. owners who have similar plans, according to a survey of 2,000 Americans.

The national hot spot for remodeling was Hawaii, where 33 percent of homes were sprucing up their home, followed by Kansas (32 percent), Montana and Rhode Island (29 percent), and New Hampshire and Utah (24 percent).

Remodelers are probably not happy in the states with the lowest makeover plans from the survey: North Dakota (4 percent) and Wyoming, Alaska and New Mexico (5 percent.) All of these states have seen their economies hurt by the energy slump.

Still, remodeling is a hot business that touches a wide spectrum of the broad economy with projects including money spent on workers, building suppliers, home fixtures, accessories and furniture.

Market tracker Metrostudy said remodeling activity that required professional help has risen for 20 straight quarters through the start of 2017. Its remodeling index is up 4.5 percent since the start of 2016 and 7.3 percent above the previous peak in 2007.

There were roughly 11.4 million pro-worthy remodeling and replacement projects nationwide last year worth $170.6 billion, Metrostudy estimates. This year, it predicts the number will rise to 11.9 million jobs worth $180 billion.

The current strength of the remodeling market can be attributed primarily to economics low mortgage rates, strong existing home sales, the bull stock market run, good job gains, and now more recently, wage gains, Mark Boud, Metrostudys chief economist, said in a news release.

The Joint Center for Housing Studies of Harvard University which tracks a broader definition of remodeling that includes home repairs expects some cooling from a 7.3 percent annual growth rate to start 2017 to 6.1 percent in 2018s first quarter. Thats better the 5 percent historical norm and adds up to a $320 billion-a-year business.

The National Association of Home Builders index of the remodeling industrys optimism rose in 2017s first quarter to its highest level since 2015. Helping to boost the industry wereincreases in calls for bids, work committed and a backlog of jobs.

Oh, by the way, what did the GetHearth survey find as the dream remodeling project?

When asked If money was no object, which room would you renovate next in your home? Kitchen was No. 1, according to 38 percent of those polled, followed by thebathroom (15 percent), living room (12 percent), basement (10 percent) and bedroom (10 percent).

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1-in-7 California homeowners plan to remodel, but what states have more? - OCRegister