Home Renovations


THE HOME IMPROVEMENT RESEARCH INSTITUTE PREDICTS AN 5.8 PERCENT INCREASE IN RENOVATIONS THIS YEAR.More than half of homeowners (57 percent) plan to spend money on home improvement projects this year, according to a recent SunTrust survey conducted online by Harris Poll. In fact, the Home Improvement Research Institute predicts an increase in renovations by 5.8 percent, up from 4.9 percent last year. With consumer confidence on the rise, the home improvement industry is expanding, and the influx of a new generation of homeowners is beginning to set the stage for even greater growth opportunities. In 2013, baby boomers were responsible for almost half of all home renovation spending, according to the Joint Center for Housing Studies at Harvard University. But the population of millennials is expected to reach 75.3 million and outweigh boomers this year. This means a new market of young homeowners will be looking to increase space for a growing family, lower energy costs to reduce their carbon footprint, or perform routine maintenance to upkeep one of their largest investments. With homeowners having projects in mind and budgets to match, consumer renovation trends include:

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Energy Efficiency the Tarheel Way

North Carolina has achieved regional and national recognition as a leader in the clean energy market. Energy efficiency is one pillar in the industry that offers simple, costeffective actions that contribute to a clean energy success plan, and financial savings on monthly energy bills for home and business owners. Ryan Miller, founder and executive director of the N.C. Building Performance Association and Chuck Perry, program director of the N.C. Energy Efficiency Alliance, offer their perspective on the energy efficiency industry and marketplace in North Carolina. Additionally, they provide perspective on how consumers are becoming more educated and engaged regarding their energy use, and how that impacts the building and construction industry.

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Phoenix's East Valley Keeps Growing

The year 2015 is a turning point for Phoenix's East Valley, which is experiencing robust growth.

THE YEAR 2015 IS A TURNING POINT FOR PHOENIX’S EAST VALLEY, WHICH IS EXPERIENCING ROBUST GROWTH.The year 2015 is a coming-of-age turning point for Arizona’s Phoenix (PHX) East Valley. Local government and private sector initiatives have transformed the area from a Fortune 500 business relocation magnet to a region that can grow its own industry game changers. A skilled workforce, innovation, companies, and robust infrastructure are driving emerging businesses and helping to revive recovering sectors.

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