Construction market watchers are predicting a rebound in remodeling projects across the country this year in general, and in the Minneapolis St. Paul region in particular.
That’s the word from Hanley Wood’s Remodeling magazine, which has released its ranking of the top 20 market areas in the country for remodeling activity in 2012, the first step in following up its inaugural Top 100 Markets list from last year.
The list indicates that only Houston will exceed the Minneapolis St. Paul metro area for remodeling activity for in the coming year. The list combines permit activity, household surveys and demographic and general economic data to compile the list which indexes activity against the decade-high mark of 2007.
The magazine cites the Twin Cities’ corporate and medical technology base, it’s educated workforce and lower-than-average unemployment in predicting a 6% rise in the number of remodeling projects.
In a separate report, Remodeling magazine compiles ongoing statistics about the cost recouped by remodeling projects, including kitchen remodels, master suite additions and living room addition.