Sales are down for private homebuilders, but remodelers and painting and flooring contractors seem to be doing reasonably well, according to data from financial analysis and software company Sageworks.
Private homebuilders saw sales drop 5.35% so far this year but sales for residential remodelers climbed 5.31% and increased 7.43% for finishing contractors.
Sageworks suggests this might be happening because homeowners unable to sell their homes are instead investing in home improvements. Are sellers sprucing up homes to make them more attractive to buyers? Hard to know. I’m a little skeptical. Home Depot, for one thing, is having a tough time. Help me out. Any painters or remodelers out there?