Abstract:
Job size and price of the remodeling job shrank in 2008
Publication Date:
Tue, 2009-03-31 19:00
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The amazing shrinking job
No matter how you look at it, job sizes shrunk in 2008. In every category, the average price tag dropped from 2007 to 2008.
Another indicator: In 2007, whole-house remodels made up the biggest portion of revenue for the average company. In 2008, it was kitchens.
The average company completed 76 jobs in 2008, but there were many companies doing less work as well. More than a third of companies reported less than 20 jobs for the year.
The most popular type of job was kitchens, with 70 percent of companies reporting they renovated at least one kitchen in 2008, followed by bathrooms (67 percent), additions (58 percent) and whole-house remodels (52 percent).
By pure number of projects, home repairs or handyman work topped the list, accounting for about a quarter of all remodeling jobs, although only 46 percent of companies reported at least one home repair project for 2008. Home repairs also equaled only 6 percent of total revenue because of the much smaller price tags for those projects.
The least popular type of remodeling work was insurance restoration, with only 19 percent of companies providing that service in 2008. Those projects accounted for 2 percent of total revenue and about 5 percent of total projects.
About a quarter of companies also built at least one new home in 2008, with an average price tag of $275,000.
To read more of our survey, click the links below:
Examining the depths of the downturn
Revenues take a plunge
Labor is top expense
Small workforce the norm
The amazing shrinking job
Repeats and referrals dominate
Lean sales operations
