Thursday, January 26, 2012

Should you remodel in your city?

Remodeling Magazine has issued their second annual forecast on the top 100 cities in terms of remodeling activity when measured against "the level of activity in first-quarter 2007, which was the peak of remodeling activity nationally in the prior decade."  They have dubbed their "measuring stick" to be the Residential Remodeling Index ("RRI").  We find their list an interesting commentary on the health of the nationwide real estate market.  One wonders - Does this remodeling index point to and correlate with the sales activity in that community as well?  Or is it the indication that homeowners are staying in their homes and remodeling rather than moving?

In order, the top ten based on the RRI are:  Cincinnati, Houston, Minneapolis, Dallas, Austin, San Antonio, Kansas City, Charlotte (North Carolina), Oklahoma City and Philadelphia.

In our state, California, the following cities made the list:  San Francisco (#35), San Diego (#49), Sacramento (tied for #51), San Jose (tied for #54), Los Angeles (#66), Riverside (#79), Ventura (#84).

Did your city make the list?  Check it out here:  Top 100 Remodeling Markets

No comments: