After years of putting off their bathroom remodeling plans, home owners are showing a renewed confidence in the economy and are purchasing new projects at an exponential rate. Contractors are also seeing the trend lean toward the positive, as bathroom remodeling projects in the San Fernando Valley have increased 10% in the last five months alone.
Leading experts agree that this trend will continue over the next several years especially as the economy comes out of its deepest trough since the great depression. Remodeling projects are forecast to rise at an annual average of 3.6 percent between 2011 and 2015. All things considered, this has been a huge leap for the positive; up until last year bathroom remodeling in the San Fernando Valley has been suffering from dismal sales and a reluctant customer base.
Though all signs are pointing for the better, contractors are still reluctant to boost their prices too quickly. There is a “wait and see” mentality in the market, and most companies are still offering reduced rates typical of a few years ago.
Pragmatic homeowners are noticing this trend and are jumping at the opportunity in record numbers – Especially considering that bathroom remodeling in the San Fernando Valley has seen such a major boost in sales over the last few months.
The trend for the coming year seems inevitable. As homeowner’s bank accounts swell with the turning economy they are dusting off their bathroom remodeling plans and jumping at prices that are still at “2010 standing.”