CNNmoney.com: Construction spending trends toward remodeling and renovationBy Marvin Windows
On the heels of news from the U.S. Commerce Department that home improvement spending is surging, CNNmoney.com ran a story titled “In real estate, nesting is the new flipping.”
The article chronicles the trend away from rapid buying and selling toward the more wallet-conscious tendency to renovate or remodel. From the story:
An added incentive spurring remodeling is the $1,500 federal tax credit for home improvements that raise energy efficiency. Jobs involving replacement windows and doors, heating and air conditioning systems, new roofs and adding insulation all can qualify.
Susan Marvin, president of Marvin Windows and Doors, said that the proportion of replacement windows her company sells versus windows for new home construction has flip-flopped.
“Our replacement window line has outperformed our line meant for the new construction market,” she said. “Replacement window sales are up by double digits, and the new construction windows are down by double digits the past few years.”