As homeowners struggle to sell their homes, many are deciding to stay put and invest in properties they already love.
(Source: CNN Money)
If flippers were the poster children of the real estate boom, then nesters are becoming the icons of the new housing market.
A proportionally bigger share of the home construction dollar — 20% more during the first three quarters of 2009 compared with the same period last year — now goes to home improvements, according to the U.S. Census Bureau. In October, remodeling spending increased 8.7% compared with September to an annualized rate of $114 billion.
Read Les Christie’s full article “In real estate, nesting is the new flipping” in CNN Money (December 4, 2009).