What's New in the 2008-09 Report?
New Name
In the past, the Report name has always contained the year in which the data was gathered. But because the data aren’t published until November, people who come upon the Report in January or later often conclude, mistakenly, that they are looking at out-dated results. We hope that the new naming convention will clear up any confusion. (Titles of archival reports will not be changed.)
New Project
This year's Report reshuffles the two existing deck projects and introduces a third. The basic wood deck project stays the same, but the composite deck that was listed as “upscale” in 2007 is now reclassified as a "midrange" project. This makes it much easier to compare composite and pressure-treated wood decking and railing because the two midrange projects are identical in all other respects. The new upscale deck project, which is the only new project introduced this year, specifies composite materials, but also increases the dimensions of the deck and adds design complexity and accessories. (Complete project descriptions are available by clicking on any project name in the data tables.)
New Cities
We have added 22 cities to this year’s Report, increasing the total number of cities surveyed from 60 to 80. The seeming anomaly in the arithmetic stems from adjustments made to conform to U.S. Census reclassifications of MSAs (Metropolitan Statistical Areas) into CBSAs (Core Base Statistical Areas). This involved consolidating four cities into two: Philadelphia now includes Wilmington, Del.; and Denver now includes Colorado Springs. And if you are looking for Norfolk, it has been renamed Virginia Beach, also to conform to Census reclassifications. By aligning Cost vs.Value data with U.S. Census standards, we are better able to compare and cross-reference statistics between the two sources. (There are just 79 cities in the 2008–09 Report. We omitted results for Portland, Maine, due to incorrect cost data in the questionnaire. Portland will be included next year.)
New cities were added based on a variety of factors, including U.S. Census Bureau population estimates, availability of ancillary data (such as construction costs and median home prices), and the number and proximity of other cities in the same state or general geographic area. Some cities that would otherwise qualify for inclusion are, in fact, omitted from the Report because they are close in size and median home value to another city in the same geographic area. In that case, the other city was either a legacy city or the larger of the two.
New Commentary
We asked remodelers and Realtors for their reactions to the Cost vs. Value results, and about trends they are seeing in the marketplace. Their comments cover a range of topics, from kitchen and bath trends, to energy improvements, to downsizing square footage, to the value of low-cost replacement projects, and more. To read these stories, click here.