Jul 26 2007 11:22AM | Permalink | Email this | Comments (0) |
Blog This! using: Blogger.com | LiveJournal |

The latest new home sale numbers are out today, and they're not good. But does that matter to you?

From my discussions with remodelers, it seems the biggest effect is psychological. Some homeowners get scared by dropping home prices, making them less likely to undertake large projects. 

I recently talked to a remodeler outside Philadelphia who told me that while his local economy is good, people are scared that it could go bad at any moment. While he had eight projects over $200,000 last year, he's had only one this year and his overall volume is down 40 percent. On the other hand, I just talked to a remodeler in Houston yesterday who said his clients aren't worried at all. Most remodelers I talk to echo that sentiment.

So what are your thoughts? Do you pay attention to the monthly numbers? Do your clients?