Industry News

Despite economy, many considering home improvement

Poll: Nearly 70% surveyed likely to remodel this year

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Despite the weak conditions in the housing market, more than two-thirds of Americans said they would complete a home improvement project in 2008, according to a recent poll by ServiceMagic.com. ServiceMagic, an online marketplace that connects consumers with prescreened and customer-rated home service professionals, found that 69 percent of those surveyed would improve their home this year, while 31 percent said they would likely go through with a home improvement after some careful consideration and possibly a delay. "Some people do seem to be worried that now may not be the best time to invest in a large project," said ServiceMagic CEO Craig Smith. "However ... we are also seeing a soft housing market drive some home improvements as folks choose to stay in their current home and improve it instead of selling into a weak resale market." Some 65 percent said that if presented with the option they would "stay and improve" their home, compared with 26 percent who would "just stay" w...