Home improvement spending is expected to grow as the year progresses, according to data released Thursday by the Joint Center for Housing Studies of Harvard University. And such a jump is not unusual, considering spending in the segment grew 10% last year alone.
"Contractors and subcontractors are having more difficulty finding skilled labor, and building materials costs are unusually volatile for this stage of a recovery," notes Baker.
Cynthia Nowak, the Zillow Digs communication manager, said, "What we have generally found is that certain improvements add to the value of any home. Those that have lasting value such as bathrooms and kitchens are especially beneficial in the long run."
Nowak added that this is why Zillow Digs provides home shoppers and homeowners Digs Estimates of actual costs of thousands of real bathrooms and kitchens based on where they live.