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Home Improvement in U.S. Slowing or Still Intact -



 

Home Improvement in U.S. Slowing or Still Intact -

Home Improvement in U.S. Slowing or Still Intact -
News from Which Is It? – Bloomberg:

Two indexes that gauge U.S. home-remodeling activity suggest a slower pace ahead. Wall Street seems to disagree.

Future market conditions measured by the National Association of Home Builders’ Remodeling Market Index fell to 55.4 in the three months ended March 31 from a record-high of 59.5 in the fourth quarter, data from the group showed Thursday. Similarly, a leading indicator of remodeling work created by Harvard University projects annual growth in home-improvement spending will slow to 2.9 percent by year end from a projected 6.5 percent in the first quarter.

While these measures suggest sluggishness, investors don’t seem to mind. Following a “relatively weak year” for renovations in 2014, “people are warming up to housing again,” said Mike Wood, an analyst in New York at Macquarie Group Ltd.

“Investor sentiment has clearly improved since the end of last year and we’ve seen that partially in stock-price appreciation,” Wood said. Mohawk Industries Inc., a “top player” in the North American residential remodeling industry and one of Wood’s outperform recommendations, has led the Standard & Poor’s 500 Index by 24 percentage points since Sept. 30.

More broadly, S&P’s Homebuilding Select Industry Index — made up of 35 housing-related companies including Home Depot Inc., Owens Corning Inc. and several home…………… continues on Which Is It? – Bloomberg

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Related News:

Shelton man accused of illegally taking money for Milford home improvement
News from New Haven Register:

MILFORD >> A Shelton man is facing charges after police say he took thousands of dollars from a local homeowner as partial payment for a kitchen renovation —and then didn’t do any of the agreed upon work.

The victim, who lives on Hauser Street, hired Timothy Kovalsky, 35, under the name of his company, Exquisite Remodeling, and paid him $ 2,887 for the project in December, police spokesman Sgt. Jeffrey Nielsen said in a press release Thursday.

Kovalsky and the victim signed a contract, but Kovalsky allegedly never performed any of the work. The victim was unable to contact him and get the money back.

Milford police checked with the state Department of Consumer Protection and found that Kovalsky had a home improvement contractor’s certificate but it had expired in 2012. There was no record of a certificate for Exquisite Remodeling.

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Kovalsky was arrested Wednesday and charged with performing home improvement without a valid certificate, failure to refund home improvement payment and third-degree larceny.

After Kovalsky was arrested, police reportedly found that State Police Troop L, which covers northwest Connecticut, held a warrant for his arrest on a charge that he failed to appear in court for traffic offenses allegedly committed in December. For that warrant, Kovalsk…………… continues on New Haven Register

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