2022 nar® remodeling impact report

By National association of realtors® impact Research Group

 
 
Realtor Milena Joy

Milena Joy, REALTOR®

Introduction*

Homeowners and renters remodel, redesign, and restructure their homes for a variety of reasons. This report takes a deep dive into the reasons a homeowner remodels, the outcome of taking on projects, and the increased happiness found in the home once a project is completed. It also contains:

  • The typical cost of 19 remodeling and replacement projects, as estimated by members of the National Association of the Remodeling Industry (NARI)

  • How much appeal each project is likely to have for buyers, according to REALTORS®

  • How much REALTORS® estimate that homeowners can recover on the cost of the projects if they sell the home.

    during the COVID-19 pandemic. Sixty percent of NARI members cited the scale of the projects increased either in a larger project or remodeling more than one room due to the pandemic.

*As experted from the 2022 NAR® Remodeling Impact Report