Home-improvement plans don't come to a complete halt in a cooling housing market. But some homeowners might be changing the type of projects they take on, adjusting the scope of their plans to make them more affordable.
That's what Pat Wilkinson, senior director of marketing at Home Depot (HD : ![]()
HD39.21, +0.34, +0.9% ) , told an audience of journalists at the National Association of Real Estate Editors conference in Philadelphia this week.
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"What we're seeing at the high end of the market is that home improvement is going strong," she said. Toward the lower end of the market, however, "it's the scope of the project that is changing," she said, adding that many homeowners are shifting their attention to outdoor projects, for example, that can be done affordably while adding curb appeal.
Another home-improvement trend she noted during a panel session on the topic included a demographic shift in homeownership that has many women buying homes and subsequently heading to Home Depot stores for "do-it-herself clinics" -- some of them filling up with as many as 200 women in a session.
"Frankly, they spend a lot of money on the way out the door," she said.
High energy prices and greater attention to environmental issues are fueling improvements to a home's windows and appliances, she added. A palette of paint colors at the store cater specifically to the Hispanic market -- and have proved successful, she said.
There's also a plethora of home-improvement television shows and Internet sites that are helping make consumers more comfortable in taking on projects, panel members noted.
Angelo Surmelis, another panelist and host of "24 Hour Design" on HGTV, thinks the popularity of the cable channel is an important reason why homeowners continue to remodel, getting more creative in the kinds of projects they're attempting. Watching people go through the process of completing a project on TV -- including watching them problem-solve when obstacles arise -- "encourage people to keep going," he said.
Read more of our real-estate coverage in this week's pages, which include statistics on falling home prices and a Realty Q&A on an issue faced by a reader inheriting a home.
Despite the do-it-yourself options out there for homeowners, Surmelis (owner of his own California-based design firm) did have a few words of caution. When people ask him at what point they should call a contractor or designer for advice he tells them: "at the beginning."
"At the very least consult with them," he said. The step that will often save time and money in the long run, he added.
Amy Hoak, real estate writer
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