In California, a survey showed an increase in home renovations is being fueled by an average home equity of $165,000 and interest rates staying low. The average remodel size was 3.4 rooms two years ago, and is now 5.3. Even though the kitchen and bathroom are still the biggest remodel areas, they are seeing more of the other rooms in the home getting add-ons or remodeled. Increased home equity and projects that homeowners postponed during the recession are also fueling the remodel trend. The DIY trend is helping as well, with more homeowners willing to work on their own homes.
Read the full article here: Remodel Or Move Annual US Remodeling Sentiment Report 2015 Finds Economic Recovery Contributes To Increase In Renovations-California Newswire