Remodeling experts say home renovations may be one of the best uses for that Economics 101 class many people blew off in college. Simple supply and demand can determine the type of granite available for kitchen counters. The cost of a barrel of oil could make a home- owner decide on tile from Virginia instead of that Italian version they had their heart set on.

“We have seen the cost of most commodity building materials — lumber, plywood, etc. — remain fairly stable for the last six to 12 months,” said Bill Millholland, executive vice president of Case Design and Remodeling. “Some special-order materials, such as cabinetry and tile, have seen fuel surcharges added to their shipping costs. This results in a price increase to consumers.”