August 30, 2011
W11-6: In the decade spanning 2000 to 2009, the average US homeowner spent $2,432 annually on home improvement projects, but average expenditures across local markets in the US varied considerably. Indeed, among the 35 largest metropolitan areas, annual per homeowner spending ranged from $1,218 in San Antonio to $4,885 in San Jose. Since remodeling activity is in part a product of local market conditions, metro-level analysis offers a sharper lens for understanding the determinants of remodeling activity than a regional or national analysis might provide...
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