This roughly 100-year-old residence experienced a fire as a result of one deteriorated brick in one of the original fireplaces. The whole house was deluged with water; extensive internal damage needed to be carefully restored along with correcting some unfortunate prior renovations. Read More
Read MoreMonth: November 2024
Remodeling in the US – Market Research Report (2014-2029)
Remodelers enjoyed modest growth over the past five years. A decline in consumer confidence amid uncertain economic conditions and rising interest rates offset some gains remodelers benefited from early over the past five years. Remodeling revenue has been increasing at a CAGR of 0.5% to $120.9 billion over the past five years, including a projected increase of 0.9% in 2024 alone, as profit is expected to dip to 6.2%. Labor shortages and increased price-based competition among a growing number of remodelers have primarily contributed to profit declines. Remodelers’ ability to…
Read MoreHome Remodeling Statistics and Trends of 2024
Eco-home remodeling effectively achieves a range of global goals, like addressing climate change, creating sustainable and thriving communities, and driving economic growth. Sure, these sound grandiose, but homeowners also have immediate advantages, such as reduced energy bills, tax deductions, and saving the planet, according to Zenith. Read more
Read MoreNKBA’s VFTI Conference at KBIS 2025 offers a powerful array of CEU-qualified learning sessions.
Subject Matter Experts will conduct more than 70 sessions for the upcoming edition, Feb. 25 to 27 at the Las Vegas Convention Center. Seminars and workshops are organized into six tracks: Building & Remodeling, Design, Hot Topics, K&B Trends, Leadership & Management, and Marketing. KBIS attendees may purchase a package including the Expo pass plus a conference pass for all on-site VFTI presentations and unlimited access to on-demand sessions throughout 2025. All sessions are CEU-qualified. Read More
Read MoreSurvey shows uptick in home renovation projects, but insurance coverage still lags
As the housing market continues to evolve and mortgage rates remain elevated, many U.S. homeowners are choosing to invest in their current properties rather than enter the uncertain market for a new home. New data from Nationwide shows that many are opting instead to invest in home renovations, repairs, and other upgrades to meet their needs. According to Nationwide’s most recent Homeowners Survey, 51% of homeowners say they have completed a major home renovation project within the past two years. While share of empty nesters undertaking home renovations is similar to that…
Read MoreWhat Americans Are Planning To Spend on Home Renovations in 2025 — Is It Too Much?
The COVID-19 pandemic ushered in widespread lockdowns across the country. All of a sudden, many people were spending more time in their homes than ever before. In fact, according to the U.S. Census Bureau, the number of people primarily working from home tripled between 2019 and 2021. The result? A wave of increased home renovations in an effort to make spaces more functional and comfortable, according to GOBankingRates. Read More
Read MoreEnergy Prices Drive Construction Materials Costs 0.3% Higher in October
Construction input prices increased 0.3% in October compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices also increased 0.3% for the month. According to Associated Builders and Contractors, prices increased in all three energy subcategories last month. Natural gas prices increased by 29.3%, unprocessed energy materials prices rose 9.9% and crude petroleum prices advanced by 7.3%. Overall construction input prices are 0.2% lower than a year ago, while nonresidential construction…
Read MoreWho Hires Pros and How Much Are They Spending to Complete Those DIFM Projects in 2024?
Homeowners rely heavily on professional services for ongoing maintenance and repair tasks with many opting for DIFM (Do It For Me) projects due to a lack of tools, skills, or time. Demographically, four key homeowner segments regularly hire professionals: affluent young homeowners, affluent middle-aged homeowners, middle-income seniors and low-income seniors. According to the Home Improvement Research Institute, these groups invest significantly in DIFM projects, particularly for tasks like roof repairs and plumbing. Remodelers can capitalize on this by offering service plans and warranties to push through homeowners’ concerns about cost…
Read MoreRemodel of the Week: 2024 National / Regional CotY Award Winner, Entire House Over $1,000,000
Creating a contemporary space with room for guests while preserving the original architecture of their childhood lakeside home was key for these homeowners. A main level expansion made room for a primary suite and music room and removing a wall between the kitchen and dining room allowed for a vaulted ceiling. Read more
Read MorePros Expect an End-of-Year Rebound Following Slowed Activity
“Home remodeling and design professionals are optimistic as the year draws to a close, with more firms anticipating an increase in business activity than a decrease in the final quarter of 2024. This follows an overall decline in business activity in the third quarter of the year. Meanwhile, wait times in the industry are similar to last year’s and hovering around historic averages..” Read more
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