With the home renovations market growing, many homeowners find that their budgets run over $5,000 after the dust has settled. Despite this, homeowners are still shelling out for popular updates, such as spa-like touches in the bathroom, bold accent walls, and energy-efficient upgrades like HVAC systems. Read more
Read MoreMonth: October 2024
Auburn Gresham Victorian Is 2000th Home Remodeled Through Cook County Land Bank
Developer Tytus Henry remodeled the four-bed, four-bath Victorian home “from the ground up,” with help from local youth who hope to work in the trades. Local officials and leaders at the Cook County Land Bank Authority joined Henry Thursday to celebrate the completion of the single-family home at 8514 S. Peoria Ave. The four-bedroom, four-bath Victorian home is the 2,000th Cook County Land Bank Authority property to be redeveloped in the organization’s 10-year history. The Cook County Land Bank Authority bought the vacant property in 2019. The 4,500-square-foot home was…
Read More2 in 3 Homeowners Have Gone Into Debt for Renovations
Nearly 2 in 3 homeowners (63%) have gone into debt to fund a renovation, according to new research from Clever Real Estate, a St. Louis-based real estate company. PR Newswire says with 94% of homeowners having completed a major renovation in the past five years, about 3 in 4 (78%) went over budget on their last project. Nearly half (44%) exceeded their budget by at least $5,000, while 35% exceeded it by at least $10,000. With three months remaining in 2024, 45% of homeowners have already spent $5,000 or more…
Read MoreNAHB/Westlake Royal Remodeling Market Index (RMI)
The NAHB/Westlake Royal Remodeling Market Index (RMI) is based on a quarterly survey of NAHB remodeler members that provides insight on current market conditions as well as future indicators for the remodeling market. New Methodology as of Q1 2020 The NAHB/Westlake Royal RMI is based on a quarterly survey of NAHB remodeler members that provides insight on current market conditions as well as future indicators for the remodeling market. The RMI survey asks remodelers to rate five aspects of the remodeling market as “good,” “fair” or “poor.” Each question is…
Read MoreBobcat to Debut Several New Machines, Product Innovations at Equip Expo 2024
Bobcat Company, a global equipment, innovation and worksite solutions brand, will showcase several all-new and recently introduced grounds maintenance and turf renovation machines at Equip Expo. New Utility Tractors on Display Introduced in June 2024, Bobcat’s utility tractor lineup (UT6066, UT6566, UT6573) offers a competitive advantage for hauling, digging, raking, scraping and more. Bobcat will display its UT6573 at this year’s show. Bobcat utility tractors feature 12×12 powershuttle transmissions that deliver smooth shifting without stepping on a clutch pedal. Powered by turbocharged, Tier 4 diesel engines, these tractors offer robust…
Read MoreKey Hardware Trends to Monitor
The Farnsworth Group, which conducts extensive research in the hardware and building materials markets, offers a slew of insights into what consumers are increasingly seeking (and buying). Here’s a look at top trends owners should consider to finish 2024 strong and plan for a healthy 2025. The outlook for 2025 looks positive. This year bas been down, but thing could be looking up. Farnsworth writes: “According to the August Size of Market release by The Home Improvement Research Institute, the hardware market is anticipated to rebound into positive territory in…
Read MoreRemodeling Spending to Tick Up Through Mid-Year 2025
Homeowner spending on improvements and repairs is projected to stabilize and gradually increase through mid-2025, with a slight annual decline of -0.5% expected by the second quarter, according to Harvard’s Joint Center for Housing Studies. Despite economic uncertainty and slower home sales, the home remodeling slowdown is predicted to remain mild, with annual expenditures reaching $466 billion, similar to the previous year’s levels. According to Harvard University, a modest downturn, homeowner expenditures for improvements and repairs are expected to trend up through the first half of 2025, according to the…
Read MoreFraming Lumber Prices
According to the NAHB, the framing lumber composite price increased 0.5% for the week ending on Oct. 4 compared to the previous week. Lumber prices are currently 3.6% lower than they were one year ago. NAHB continually tracks the latest lumber prices and futures prices, and provides an overview of the behaviors within the U.S. framing lumber market. The information is sourced each week using the Random Lengths framing lumber composite price which is comprised using prices from the highest volume-producing regions of the U.S. and Canada. A summary of…
Read MoreIncreasing Hardwood Yield For a More Profitable Future
In the ever-evolving hardwood industry, professionals face a unique set of challenges that can impact profitability. While advances in technology have transformed lumber processing, prices for many species remain low due to competition from substitute materials and rising log costs driven by increased exports. The NHLA is stepping up to help industry stakeholders navigate these hurdles by leveraging the extensive experience of its team. By focusing on increasing yield rather than just cutting manufacturing costs, businesses can significantly enhance their bottom line, as operating costs for logs can account for…
Read MoreBathroom Trends To Enhance Resident Wellness
The latest 2024 U.S. Bathroom Trends Report from Houzz reveals that wellness continues to be a significant focus in residential bathroom design, with trends aimed at enhancing comfort and future-proofing homes. Notably, nearly half of homeowners are incorporating aging-in-place features, such as curbless showers, grab bars, and built-in benches, into their remodels. Designers across the country, like Nishia Shubert and Andrew Mikhael, emphasize the importance of planning for future needs, ensuring that renovations not only meet current requirements but also anticipate the demands of aging homeowners. This proactive approach allows…
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