It's no surprise that Hollywood would be the leading place that homeowners are turning to remodeling. Los Angeles County is in the lead of the nation's home remodeling industry with a total expenditure of $8.4 billion in remodeling projects, according to the National Association of Home Builders (NAHB). Second to Hollywood, the East Coast Hollywood, otherwise known as Nantucket County in Massachusetts with a yearly average of $8,520 in dollars that are spent per household on remodeling. Yea, we're not so sure Nantucket is the Hollywood of New England, but it is one of the ritziest neighborhoods on the East Coast. However, NAHB named others in its top counties including Cook County, Illinois with $4 billion, Nassau County, New York with $1.9 billion and Miami-Dade County, Florida with $1.7 billion.
NAHB also showed that the average amount spent on remodeling projects per household is $1,907. The top counties after Nantucket that spent more on their remodeling projects were Marin County, California with $7,782, Falls Church City, Virginia with $6,099 and Cook County, Illinois (again?!) with $3,466. Apparently, the residents of Cook County have some very luxurious homes.
The Chairman of NAHB, George "Geep" Moore, who is also the owner and president of Moore-Built Construction and Restoration, Inc in Elm Grove, Louisiana, suggested that the remodeling activity shows that there are some "bright spots" in America's housing economy.
"Residential remodeling is one of the housing industry's bright spots, and in some parts of the country this is more true now than ever," said Moore. "The level of remodeling activity varies by region and town, but home owners throughout the country are increasingly choosing to renovate their homes or build additions to meet their changing lifestyles.
While the nation continues to face many dangers with the housing market, remodeling has proven to be the safe place that allows homeowners to improve the functionality and beauty of their homes, without having to make any major decisions in regards to ownership. Other homeowners are finding that remodeling projects are the perfect way to get into a new business.
The NAHB figures on remodeling across the country are from the American Housing Survey, funded by the U.S. Department of Housing and Urban Development, conducted by the U.S. Census Bureau, and estimates local remodeling based on home and home owner characteristics.