Portland homeowners stay put

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Monday, July 23, 2012

Portland homeowners are increasingly spending to remodel their current houses rather than move to a new house.

In the Portland area, remodel spending, which hit a high of $304 million in 2007, fell to $210 million at the close of 2011, according to Construction Monitor, a building industry data aggregator.

But as 2012 headed into summer, some forecasts show an upward trend in homeowners spending money on their houses. The Leading Indicator of Remodeling Activity recently released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University expects national remodeling activity to pick up later this year, perhaps resulting in 2012 ending with activity up 5.9 percent.

Read more at OregonLive.com.

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