|Demand for Special Home Features Wane while Energy Conservation Options Remain Popular|
|Tuesday, 06 October 2009 10:21|
In light of the downturn in the housing market and overall economy, homeowners are still adding energy-efficient options and low maintenance produces, while showing a lessened interest in special features such as home theaters, guest wings and three-car garages. Business conditions at residential architecture firms are stabilizing with the entry-level housing market showing a movement towards recovery.
(% respond. report. popularity of room “increasing” minus % report. “decreasing”; Q2:)
(% respond. report. popularity of products “increasing” minus % report. “decreasing”; Q2:)
(% reporting popularity of system “increasing” minus % reporting “decreasing”; Q2:)
(% reporting popularity of system “increasing” minus % reporting “decreasing”; Q2:2007)
Housing market business conditions
The extended slowdown in the housing market is showing signs of stabilizing with the residential billings index increasing almost 20 points over the past two quarters. The national billings index was 38 for the second quarter (any score below 50 indicates a decline in activity), up from the low mark of 24 the previous quarter. Inquiries for new projects also increased to a mark of 47 following a score of 35 in the first quarter of 2009.
(% of respondents reporting sector “improving” minus % reporting “weakening”; Q2)
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