Fastest-Growing Markets

Harvard University's Joint Center for Housing Studies' Remodeling Futures Program has released its list of the fastest growing remodeling markets based on 2005 permit values. Analysis of 2005 remodeling permit trends shows sizeable growth in permit value for most major metro areas, with many of the fastest-growth areas concentrated along the east coast.

September 30, 2006

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The Poll

Harvard University's Joint Center for Housing Studies' Remodeling Futures Program has released its list of the fastest growing remodeling markets based on 2005 permit values.

Analysis of 2005 remodeling permit trends shows sizeable growth in permit value for most major metro areas, with many of the fastest-growth areas concentrated along the east coast. The value of remodeling permits for the nation grew at a rate of 11.2 percent in 2005. Miami (39.5 percent); Phoenix (32.6) and Tampa, Fla. (26.7) topped the list, followed by Baltimore (20.9); Washington, D.C. (20.7); New York (18.5); Pittsburgh (15.7); St. Louis (15.6); Portland, Ore. (13.9); and San Francisco (13.6) in the top 10 metro areas.

The majority of the largest metro areas in the U.S. experienced some growth in remodeling activity in 2005. A comparison between 2004 and 2005 growth rates showed that nine of the 13 cities with the greatest growth in 2004 remained in the top 13 in 2005. Seven of these nine metro areas experienced the same or better percentage point increases in remodeling permit values in 2005. By region, these "high performing" markets include Portland, Ore.; San Francisco; Riverside, Calif.; Phoenix; Miami; Baltimore; Washington, D.C.; Philadelphia and New York.

 

Got a Funny Story?

Every remodeling contractor has a funny story to tell, and we're on the lookout for the best of them. Here's an example: A contractor stopped at the job site and saw his crew urinating in the owner's yard, only to find out they were afraid to use the lone usable bathroom because they thought the "weirdo" homeowner had installed a two-way mirror. Send your stories to michael.morris@reedbusiness.com.


The Poll

What percentage of your jobs come from repeats & referrals?

  1. 100%
  2. 90–99%
  3. 80–89%
  4. 70–79%
  5. 60–69
  6. 50–59%
  7. 40–49%
  8. Less than 40%
  • To cast your vote and view the results as they are tabulated, visit www.ProRemodeler.com

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