Harvard's Joint Center for Housing Studies has issued a press release predicting a downturn in demand for home improvement. Homeowner remodel spending has shown signs of easing over the last two quarters. This is likely a result of the cooling housing market, but may play to the advantage of homeowner's in markets that have not, and probably will not, see major declines in home values (markets like Dallas). The D Home blog is suggesting that the decreased demand for remodeling will put contractors out of work and therefore will make their rates much more negotiable.
If this is the case, what are your best bets for remodeling? I've heard a million times that home buyers put the highest value on kitchen and bathroom remodels, so those are probably a great place to start. I know our 1950's home could use some new fixtures (we still have all original sinks, faucets, and tubs and they are not lookin' too good). Another good bet is hardwood flooring. In my personal opinion, the Dallas housing market is experiencing a very brief slump, mostly due to seasonal demand (most people buy in the spring). We should see sales back to normal soon, especially considering that Dallas is now the nation's 4th largest city with over 350 new residents moving here each day!
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