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 MoreYear: 2024
Remodeling 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…
Read MoreSea Pointe Design & Remodel Wins 1st Place in Best of OC Annual Awards
Sea Pointe Design & Remodel has proudly secured 1st Place in the Kitchen and Bath Specialist category at the prestigious Best of OC annual awards, a recognition that underscores the company’s commitment to excellence and innovation in home design and remodeling. Located in Irvine, the firm has experienced significant growth, expanding its team from 38 to nearly 70 employees in just a few years. This expansion reflects a growing trend among Orange County homeowners, who are increasingly opting for comprehensive remodels as housing opportunities become more limited. President Lauren Mills…
Read MoreRemodeled Greenville Home Wins Three Bridge Awards
A recent home remodeling project in the downtown Greenville area has garnered significant recognition, winning three prestigious Bridge Awards from the Home Builders Association of Greenville. The award-winning remodel, executed by Stone Construction and Design, showcases exceptional craftsmanship and innovative design, reflecting the high standards of quality and creativity that the local contracting and remodeling industry aspires to achieve. The project not only enhances the aesthetic appeal of the home but also emphasizes functionality and sustainability, key considerations for modern remodels. This achievement highlights the importance of skilled professionals in…
Read MoreRenovateAI Launches AI-Powered Tool for Streamlining Home Remodeling and Design Visualization
Renovate AI has launched an innovative app designed to transform the home remodeling and design process by utilizing artificial intelligence for instant visualizations. Founded by Sid Sarasvati in response to challenges faced in staging homes for sale, the app enables users to efficiently remodel and visualize both interior and exterior spaces. With features that allow for quick adjustments in wall colors, materials, layouts, and furniture placement, Renovate AI provides a comprehensive and realistic preview of potential design outcomes, significantly enhancing decision-making efficiency. The app’s capabilities streamline workflows by reducing the…
Read MoreGreen Building Materials Market Size, Growth, Trends and Forecast 2024-2032
The global green building materials market reached USD 346.4 billion in 2023 and is projected to grow to USD 716.4 billion by 2032, demonstrating a robust compound annual growth rate (CAGR) of 8.18% from 2024 to 2032. North America currently holds the largest market share, driven by increasing demand for eco-friendly materials, particularly in insulation applications, which are essential for enhancing energy efficiency and reducing heating and cooling costs. This surge is largely fueled by growing environmental awareness, government incentives promoting sustainable practices, and the rising popularity of certifications like…
Read MoreNew Home Construction Could Be Headed for a Revival
New home construction is showing signs of a potential revival, as recent data indicates a significant uptick in housing starts. Economists have pointed out that building more homes is essential to making homebuying more affordable. With cooling mortgage rates and falling home prices contributing to a renewed demand for new properties, the Congressional Budget Office projects a steady increase in housing starts over the next decade. In August, builders began nearly 10% more new homes compared to the previous month and saw a 4% year-over-year increase, marking a pivotal shift…
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