A family of four undertook a gut remodel of their Falls Church home located in Norther Virginia, dramatically transforming the three-bedroom, 1,522-square-foot, 1950s rambler into a five-bedroom, 3,052-square-foot, two-story home “We decided to move forward with this renovation because we needed more living space and storage as our kids grew,” the wife said, and loving their neighborhood, staying put proved to be the right move. Design-build firm, Batu Homes + Remodeling, drew up the architectural plans, while Juli Brocato, founder and principal designer of Brocato Design + Co., made initial…
Read MoreDay: January 22, 2025
How Much People Spend on Kitchen Remodels and Top 2025 Trends, According to Houzz Study
According to a nationwide study by building resource Houzz, designers and remodeling experts predict home improvement spending will continue to grow well into 2025. People are particularly expected to be willing to pay for large and luxury kitchens for cooking, eating and entertaining, The 2025 U.S. Houzz Kitchen Trends Study found that more than a third of homeowners increase the footprint of their kitchens during a renovation. More space is created by building an addition or expanding into an adjacent space like a closet, dining or living room. “Nearly half of…
Read MoreDemographic Analysis of Labor Force Participation Rate
According to Eye On Housing, A key indicator of the labor market is the labor force participation rate. This rate is the percentage of working-age adults in a population who are working or looking for work. The rate is a critical measure connected to both housing demand and housing supply (via the construction labor force). According to the Employment Situation Summary reported by the Bureau of Labor Statistics (BLS), the labor force participation rate remained at 62.5% for the third month in December 2024. After the labor force participation rate reached 67.3%…
Read MoreNearly Half of Homeowners Plan To Renovate in 2025
Though homeownership remains a goal for many Americans, high prices and mortgage rates are making it harder to move. According to a recent survey conducted by This Old House, 91% of homeowners don’t plan to sell in 2025, with many choosing to stay put because buying a new home is too expensive. Home prices are continuing to rise, reaching a median of $435,000 in October 2024 while mortgage rates stay high, thus housing affordability could become even harder to achieve. According to This Old House, To better understand homeowners’ plans…
Read MoreModest Gains in 2025 Outlook for Home Remodeling
Annual expenditures for improvements and maintenance to owner-occupied homes are expected to grow at a mild pace throughout 2025 after two years of decline, according to the Leading Indicator of Remodeling Activity (LIRA) recently released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA projects that year-over-year spending for home renovation and repair will increase by 1.2% in 2025. “A solid labor market, rising home values, and continued improvement in existing home sales are supporting greater activity in home remodeling and repair,”…
Read MoreWhole House Remodeling Reaches Record High While Sentiment Improves
Posting a reading of 68 for the fourth quarter of 2024, the National Association of Home Builders (NAHB)/Westlake Royal Remodeling Market Index (RMI) is up five points compared to the previous quarter. Corroborated by NAHB’s recent analysis of home improvement loan applications, remodelers are more optimistic about the market than they were earlier in the year. Leads are coming in post November election as political uncertainty was removed, allowing demand to rise in many parts of the country stronger than usual for the fall season, especially demand for larger projects. The…
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