After gaining a foothold in 2014, the U.S. economy is expected to continue to move forward in 2015 and beyond, slowly but steadily.
- Second quarter numbers for 2015 show that the economy grew “2.3% between April and June compared to the same time a year ago, according to the Commerce Department’s first estimate of gross domestic product,” reported by CNN Money.
- Optimism about the job market is also up, with “56% of Americans now say[ing] their local job market is good, up from 46 percent in the spring of 2013,” according to CBS News.
- And kiplinger.com forecasts that “home prices nationally will rise by 3.5% in 2015.” They also expect “existing-home sales to increase 8% in 2015 (after declining 2% in 2014) and new-home sales to rise 25% in 2015 (after a meager 4% rise in 2014).”
What does this mean for you? With the security of a steady economy behind you, now might be a great time to invest in a home remodel, or even just a few updates.
For instance, according to remodeling.net, a minor kitchen remodel is currently recouping a whopping 70.2% of it’s costs, which is up from 2014. Remodeling projects across the country are on the rise, so consumers are feeling confident. And most other remodeling projects are projecting a big return on investment as well, as you can see here.
If you’re thinking of updating your kitchen countertops or cabinets (or adding cabinetry to upgrade any room), this might be just the time!
If you’re ready to make kitchen remodel decisions, big or small, we we would love to have you stop by our amazing showroom here at The Cabinet Store in Apple Valley! Showcasing high quality cabinetry, countertops, and more for your kitchen, bath, or home remodel, we also have talented designers ready to offer free computerized design services. We work with homeowners in Apple Valley as well as across the Twin Cities MN and beyond.