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New home buyers help fuel remodeling surge

from By Michael J. Berens

Remodeling activity is at its highest level since before the housing bubble burst. With mortgage rates and home prices increasing, homeowners are choosing to fix up their current home rather than move up to a more expensive one. At the same time, new home buyers facing limited availability of desirable properties in many markets are following a similar strategy: purchasing a more affordable home that meets their basic needs and then remodeling to transform it into the home they want. more

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