"Consumer confidence hit a five-month high"

I subscribe to this great e-newsletter for Remodelers called daily5Remodel. They spend all day searching for the best and most important new articles in the Remodeling world and send them to me in an email everyday. Yesterday morning the first article in the list caught my eye and really caught my interest.

It was title: Consumer confidence hit a five-month high. And I thought GREAT! I love good new – lets hear more.

So the article came from Bloomberg.com and was really entitle: U.S. Economy: Confidence Improves, Businesses Expand By Courtney Schlisserman and Bob Willis - Nov 30, 2010

This article stated that US consumer confidence rose again in November to a 5-month high, that spending increases are already giving retailers like Wal-Mart a boost early in the holiday season, and that it looks like this trend will continue as “households sense that job and income prospects are improving”.

It went on to talk about both positives and negatives that are happening right now in our economy, that manufacturing is still growing because of exports and investments in new equipment, and a lot of foreign and business demand, but that housing is still proving to be a “weak link”. But it also referenced anticipation that Dec 3rd report from the Labor Department will show another 145,000 jobs were created in November, on top of the 151,000 that were added in October. I heard on the news this morning that 2 major car companies just announce plans to hire, and Cnn.com reported today that Cyber Monday was the biggest ever with an estimated just over $1 billion dollars being spent. (a 16% increase over last year).

So why do I care about all of these good and bad reports? Because as I combine this information with my Remodeling Magazine Cost V Value report for 2010…(which pretty much said that despite lower construction costs, slump home values pulled down some of the cost-to-value rations this year) I have to try and make plans for Almar for next year. What do I think will happen? Well based on this year, and feedback from my fabulous clients I think next year will continue the growth trend.

What’s going to be “hot” and important for my Almar clients next year? Replacement and repair projects, because they will be more affordable than a larger scale project and help your home hold value. Also projects that people have been holding off on and don’t want to wait any more.

According to Remodeling Magazines Report almost all of the Top 10 projects are exterior replacement projects.

1. Entry Door Replacement
2. Garage Door Replacements
3. Fiber Cement Siding
4. (tied) Minor Kitchen Remodel
4. (Tied) Deck Addition (wood)
5. Vinyl Window Replacement
6. (tied) Foam-Backed Vinyl Siding
6. (tied) Vinyl Siding
6. (tied) Wood Window Replacement
7. Attic bedroom remodel
8. Window replacement (vinyl - Upscale)
9. Basement Remodel
10. Garage Door Replacement - upscale


Things are looking up – I hope you’ll take a few minutes this holiday season to look beyond Dec 25th and start planning your projects for next year.