The National Association of Home Builders announced today the leading counties for remodeling revenue per year. Los Angeles County, California leads the pack at $8.4 billion annually, while Nantucket County, Massachussets has the highest yearly average per household at $8,520.
The NAHB model uses data from the American Housing Survey, which is funded by the U.S. Department of Housing and Urban Development and conducted by the U.S. Census Bureau, to estimate local remodeling based on home and home owner characteristics.
"Residential remodeling is one of the housing industry's bright spots, and in some parts of the country this is more true now than ever," said NAHB Remodelers Chairman George Moore Jr., GMB, CAPS, GMR and owner/president of Elm Grove, LA-based Moore-Built Construction & Restoration Inc. "The level of remodeling activity varies by region and town, but home owners throughout the country are increasingly choosing to renovate their homes or build additions to meet their changing lifestyles."
"Nationally, we're forecasting a continued increase in the demand for residential repairs and improvements," said NAHB Chief Economist David Crowe. "Based on our analysis of the remodeling spending numbers, we are able to identify areas of the country where our members can take advantage of this growing opportunity. The county estimates also include useful information on the local conditions that influence remodeling spending--particularly the number, age and value of owner-occupied homes."
According the NAHB, the average value of total remodeling expenditures per year nationwide is $66 million; the Association has created a breakdown of top counties sorted regionally, available here. To search all counties, visit www.nahb.org/countydata.