Looking for some assistance in planning out home remodeling and design? Renovate AI is a new option powered by AI that allows users to instantly visualize interior and exterior designs. The program can explore various layouts, materials and furniture arrangements. Read More
Read MoreDay: October 23, 2024
The Home Builders Institute Construction Labor Market Report
The Home Builders Institute recently released its latest construction labor market report. Studies found that residential construction employment now stands at 3.4 million. As of August, the 6-month moving average of job gains for residential construction was 5,667 a month. Despite this, the unemployment rate for construction workers has been historically low compared to the past 20 years. While April 2020 saw an increase in jobs, because of the housing demand impact of COVID-19, the trend was still going downward due to a shortage of construction labor. Read More
Read More10 Cities Where Homeowners Are Taking Out Loans of Over $100K for Home Renovations
A recent SmartAsset study revealed a surge in six-figure home renovation loans across several U.S. cities, with homeowners leveraging significant equity to enhance property value. According to GoBankingRates, in markets like San Jose and San Francisco, homeowners are browning up to $205,000 for upgrades. Other metro areas such as New York City, Los Angeles and Washington D.C. are reporting loan amounts from $105,000 to $125,000. Read More
Read MoreTrends in Design and Renovation: A Comparative Study Among Homeowners and Architects
A national survey conducted by brick company, Glen-Gery, involving 1,500 homeowners and 500 architects highlights the most popular design trends of the year — earth tones, warm minimalism, quiet luxury and traditional design with a modern twist. As reported by Glen-Gery, both architects and homeowners showed a strong preference for sustainable design, underscoring the importance of environmentally friendly practices in new construction and renovation. Read More
Read MoreU.S. home renovations set for a rebound
As reported by the Wall Street Journal, Americans have more than $35 trillion in home equity — that’s an average of about $400,000 per U.S. homeowner, John Burns Research & Consulting estimates. “We think there’s $30 billion in remodeling spending just sitting on the sidelines today, waiting to be spent,” Matthew Saunders, senior vice president of building products research at John Burns told the Wall Street Journal. In the John Burns poll, respondents broke out into two groups: 30+-year-olds planning work in the $60,000 range, and older homeowners planning on…
Read MoreU.S. Cities Investing the Most in Home Improvements
Home improvement spending, which surged during the COVID-19 pandemic, has recently slowed after peaking in 2022. As reported by Construction Coverage, the Harvard Joint Center for Housing Studies forecasts that the dip is temporary, and is expected to pick up mid-2025. Home improvement spending varies across regions, with Utah and Idaho topping the list of states where homeowners took out the most loans in 2023. Read More
Read MoreWindow Nation Announces Acquisition of ARMORVUE Window and Door
Window Nation, the third-largest window replacement company in the U.S., has recently announced its acquisition of Florida-based ARMORVUE Window and Door, as reported by PR Newswire. The new merger rebranded itself as “ARMORVUE Powered by Window Nation.” The move aims to enhance operational efficiencies, expand product offerings and maintain each company’s commitment to high-quality service. Read More
Read MoreHow Minimalist Furnishings Lighten Up This Paradise Valley Home
PCBC finalist Kaitlyn Wolfe renovated a Paradise Valley, Arizona, home from a dated Tuscan-style home into a clean, contemporary space while preserving key architectural elements. According to Luxe, the home includes heavy design features like dark wood and Venetian plaster. Read more
Read MoreA Turn to Growth Expected for Residential Remodeling
After a modest decline, residential remodeling and repair spending is set to rebound by mid-2025, according to Harvard University’s Joint Center for Housing Studies. The Leading Indicator of Remodeling Activity (LIRA) projects a 1.2% increase in annual renovation expenditures, with spending rising from $472 billion this year to $477 billion by the third quarter of next year. This forecast signals renewed momentum in the remodeling sector following a slight downturn, with spending levels expected to approach previous peak figures. Read More
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