Money Spent on Remodeling Seen at Record Level

Census Bureau figures for the third quarter of 1984 indicate that, for the first time, American homeowners spent more than $19 billion on maintenance, repairs and construction improvements for two consecutive quarters.

The figures indicate a seasonally adjusted annual rate of more than $67 billion on residential repairs and remodeling, indicating a record year for the remodeling industry, according to the National Assn. of the Remodeling Industry Inc. In 1983, the annual figure was $49.3 billion.

“These figures show that American homeowners are spending more money on remodeling than ever before,” said James A. Tolliver, the association’s executive director. “We fully expect that the final quarter figures will bear this out and that 1984 will prove to be a banner year for our industry.”