Whether they’re adding bathrooms, refinishing kitchens, putting in pools or remodeling basements homeowners can’t seem to get enough of home renovation according to a recent study done by Harvard’s Joint Center for Housing Studies.

The study reveals that the amount of money homeowners have spent on remodeling and renovations has risen by 5.1 percent since this time in 2003.

It is estimated that American homeowners have spent $129.3 billion in repairs and home improvements in the past year alone.

Some believe this rise in renovation activity could be due to job growth, while others attribute it to low interest rates.

Whatever the reason there is no doubt that homeowners can’t get enough of home improvement. Manufacturers of home improvement products have seen incredible gains in revenue in the past few months and many contractors are having to ask their staff to work overtime so home improvement activity might continue to rise in the next few months.

So whether you need new flooring or a Jacuzzi tub in the bathroom, statistics show that now is the time to look into renovation.

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