A graduate of Ohio Dominican University, Michael “Mike” Lelasher is a construction industry professional who served as vice president of Cardinal Builders from 2004 to 2010. In this role, Michael Lelasher was in charge of project management, business financing, and business development. Cardinal Builders’ website connects visitors with reputable specialty remodeling subcontractors in Ohio.
As the United States economy rallied from the COVID-19 crisis, home remodeling projects are on the rise through 2022. Zonda’s Residential Remodeling Index (RRI) revealed an estimated 12.4 percent annual growth in the number of remodeling projects in the country between 2021 and 2022. Zonda provides quality housing market data and reports real estate trends to help real estate companies make informed decisions. As of August 2022, Zonda’s Residential Remodeling Index culminated at 166.0 – a record high since 2007.
The major drivers of the burgeoning residential property remodeling rate are high mortgage interest, home appreciation, and low housing supply. Many homeowners tend to fancy the idea of augmenting their private equity by appreciating their residential real estate assets. Some existing homeowners are also reluctant to obtain mortgages for new homes because of high-interest rates. Instead, they invest in existing home upgrades through remodeling projects.
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