Casual Living Staff -- Casual Living, April 1, 2008
According to a recent survey of home builders conducted by the National Association of Home Builders, a patio or deck is one of the top three features most requested by new home buyers. Four-fifths and 77% of consumers, respectively, said a patio or deck is an essential/must have outdoor feature for their home.
Some of the most common outdoor remodeling projects in 2007 were for decks, porches and patios, according to the current NAHB Remodeling Outlook. More than half of professional remodelers said they completed remodeling work on a deck. According to Census figures, about $8.7 billion was spent on remodeling patios, terraces, decks and porches in 2006, the most recent year for which data is available.
All that building and remodeling means consumers will want new furniture for their spiffy new decks and patios.
|r = revised; p = preliminary|
Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
Nonrevolving credit includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers or vacations. These loans may be secured or unsecured.
Source: Federal Reserve
January' 08 numbers are preliminary
Source: Bureau of the Census and National Assn. of Realtors
|Change from Jan. '07||-33.1%||-31.2%||-30.5%||-27.5%||-46.7%|
|Change from Jan. '07||-27.9%||-33.0%||-16.3%||-24.2%||-39.6%|
|New home sales|
|Change from Jan. '07||-33.9%||-16.1%||-56.0%||-34.8%||-16.5%|
|Existing home sales|
|Change from Jan. '07||-23.4%||-25.7%||-20.0%||-22.0%||-28.5%|