At this time last year, remodelers were expecting homeowners to spend big in 2011 to upgrade their houses. This year, looking at 2012, the contractors are taking a much more subdued view.

"Just less than half of remodelers expect revenue to increase in 2012, according to the latest Professional Remodeler research. Twenty-nine percent of remodelers expect no change next year, while 23 percent expect revenue to decrease," Jonathan Sweet, editor in chief of Professional Remodeler reports.

A year ago, Sweet said, the magazine found that 64 percent of the industry was expecting business to be up in 2011.

It didn't happen.

"A stubbornly weak economy and continuing pressure on the housing market combined to make reality a lot less attractive, with only 29 percent of remodelers reporting their business picked up this year compared with 2010 and 42 percent saying that revenue was down," Sweet reported.