Year: 2024

America’s Renovation Boom Is Leveling Off—but Still Going Strong

Editorial Staff

The remodeling boom that surged during the COVID-19 pandemic is tapering off, but activity remains strong, as reported by realtor.com. According to the latest Leading Indicator of Remodeling Activity (LIRA) report from Harvard’s Joint Center for Housing Studies, spending is projected to increase slightly by 1.2% to $477 billion by Q3 2025. While the study notes that the explosive growth of 10-15% seen during the pandemic has slowed, spending levels remain significantly higher than pre-pandemic years, driven by homeowners catching up on deferred projects and making use of low-interest rates. …

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The Home Builders Institute Construction Labor Market Report

Editorial Staff

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

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10 Cities Where Homeowners Are Taking Out Loans of Over $100K for Home Renovations

Editorial Staff

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

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Trends in Design and Renovation: A Comparative Study Among Homeowners and Architects

Editorial Staff

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

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U.S. home renovations set for a rebound

Editorial Staff

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…

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U.S. Cities Investing the Most in Home Improvements

Editorial Staff

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

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Window Nation Announces Acquisition of ARMORVUE Window and Door

Editorial Staff

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

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A Turn to Growth Expected for Residential Remodeling

Editorial Staff

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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