Residence Remodeling Has Record Quarter
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Residential remodeling, according to U.S. Commerce Department estimates, rose to a record high $124.7-billion in the second quarter of 1992. That’s up substantially from the $98.8-billion in the second quarter of 1991 and the $108.5-billion in the second quarter of 1990.
The National Assn. of the Remodeling Industry, however, views the Commerce Department estimates as a fluke. NARI consulting economist Robert Sheehan said, “The first-quarter estimates were too low and the second-quarter numbers were too high.”
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