Remodeling Spending Grows in Illinois and North Carolina, Flat Nationally
What happened
The National Association of Home Builders reported that remodeling activity was flat across the nation in the second quarter. Spending declined in 26 states and increased in 24 states. Among the 10 states with the largest market shares, only North Carolina and Illinois recorded growth.
From proremodeler.com
Why it matters
The report noted that rising construction costs and weak consumer sentiment are currently keeping spending flat. However, the remodeling sector has solid long-term growth potential supported by aging housing stock and home equity gains.
From proremodeler.com
Who's involved
- National Association of Home BuildersOrganization that reported on quarterly state remodeling spending
- IllinoisState that recorded growth in remodeling spending during the second quarter
- North CarolinaState that recorded growth in remodeling spending during the second quarter
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Wake CountySpeculative
Wake County might see increased local construction demand and revenue from the rise in remodeling spending.
- Duke EnergySpeculative
Duke Energy could experience higher energy demand and usage due to increased construction activity.
Keep exploring
The entities involved
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National Association of Home Builders
organization
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Illinois
state of the United States of America
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North Carolina
state of the United States of America
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