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Remodelers surveyed by a trade organization said they expected stronger sales growth in the next three months due to a postponement of projects (80%), low interest rates (50%) and improving home prices (35%).
Members of the National Association of the Remodeling Industry (NARI), which conducted the quarterly survey, also reports the following business conditions:
• Number of inquires has increased since last year;
• Requests for bids has increased since last year;
• Conversion of bids to jobs has increased since last year; and
• Sales value of jobs sold has increased since last year.
The findings were supported by a homeowner poll conducted on NARI’s website in May 2012, which showed that 28% of homeowners planned on staying in their home up to five years longer because of the economy.