Harming housing affordability, the cost of softwood lumber, steel, aluminum and other imported materials and equipment are rising, exacerbating proce volatility and driving up housing costs. Uncertainties within the production process and when supplies will be available to complete homes in a timely manner are making this rise in costs worse. Whether or not the homes will appraise at the correct price to reflect these rising costs is another key concern. According to the National Association of Home Builders (NAHB), Supply and Demand: As demand for building materials increases, particularly…
Read MoreAuthor: Hanna
Amid High Interest Rates and Inflation, American Homeowners Would Rather Renovate Than Buy a New Home
Discover Home Loans conducted a survey to determine what client intentions are for their homes, and whether they are choosing to renovate their current property or buy a new house to best fit their needs and style preferences. It was found that high interest rates are having a high impact on homeowners in the United States with 84% of those planning to buy a new home pushed out of the market due to such. In addition, it was also found that of those impacted, 46% are no longer looking for…
Read MoreKitchens, Bathrooms and More Released as Top Remodel Projects in New Industry Report
Many homeowners plan to invest in their home, despite home renovation statistics and spending trends signaling a pending decline post-pandemic. And according to reports from the Joint Center for Housing Studies of Harvard University (JCHS) Leading Indicator of Remodeling Activity (LIRA), the home renovation industry has quickly surpassed the $400 billion threshold within the last two years. “There is also a social component, where homeowners may be influenced by their neighbors or friends who are renovating their properties,” said Ermanno Affuso, professor of economics and finance at the University of…
Read MoreHomeowners Eager To Invest Keep Remodeling Demand ‘Solid’
Though fewer homeowners have been taking on remodeling projects, don’t mistake it as a slowdown, according to a the Leading Indicator of Remodeling Activity (LIRA) report by Harvard University’s Joint Center for Housing Studies This activity indicator is an outlook measuring home improvement and repair spending on owner-occupied homes. Peaking at 17.3% in the third quarter of 2022, LIRA has been declining since, and slid 1.2% in the first quarter of 2024 compared to the prior quarter. Additionally, the National Association of Home Builders’ (NAHB) NAHB/Westlake Royal Remodeling Market Index reflected…
Read MoreRemodeling Market Sentiment Remains in Positive Territory in First Quarter
Remodeling Market Sentiment Remains in Positive Territory in First Quarter The National Association of Home Builders released its NAHB/Westlake Royal Remodeling Market Index for the first quarter of 2024, posting a reading of 66, down one point compared to the previous quarter. Read More NAHB https://www.nahb.org/news-and-economics/press-releases/2024/04/remodeling-market-sentiment-remains-in-positive-territory-in-first-quarter
Read MoreRancher Remodel: Family Reconfigures Home for Multigenerational Living
Rancher Remodel: Family Reconfigures Home for Multigenerational Living After living in their rancher in Mountain View’s Blossom Valley neighborhood for about seven years, Janet Luo and Mengzhe Ma realized that they’d simply outgrown the home. Read More Palo Alto Online https://www.paloaltoonline.com/home-improvement/2024/04/04/rancher-remodel-family-reconfigures-home-for-multigenerational-living/
Read MoreAn Interior Designer’s Take on a Heritage Remodel
An Interior Designer’s Take on a Heritage Remodel For this project, the design team’s task was to remodel the client’s childhood home to better suit her young family. Given that she grew up in the home, the client had a lot of time to daydream about the space… Read More Studio McGee https://studio-mcgee.com/historic-remodel-webisode/
Read MoreSmart Ways To Use Your Home Equity for Remodeling
Smart Ways To Use Your Home Equity for Remodeling By using your home equity to fund renovations, you are essentially using your home’s worth to improve its worth. But, while a shrewd strategy, it has its drawbacks too, and evaluating the advantages and… Read More Bankrate https://www.bankrate.com/home-equity/home-equity-for-improvement-renovation/
Read MoreShould I Add an ADU to My Home?
Should I Add an ADU to My Home? Wish you had a mini home separate from the main residence on your property? Yearning for a rental unit that doesn’t require tenants cohabitating with you inside your home? An accessory dwelling unit (ADU)… Read More The Mortgage Reports https://themortgagereports.com/101606/adding-an-accessory-dwelling-unit
Read MoreDesigner-Approved Bathroom Trends Taking Over 2024
Designer-Approved Bathroom Trends Taking Over 2024 Even without a full bathroom remodel, there are plenty of ways to refresh your aesthetic and incorporate these designer-approved bathroom trends for 2024 — whether you’re upgrading a small… Read More Good Housekeeping https://www.goodhousekeeping.com/home/decorating-ideas/g46108269/bathroom-design-trends-2024/
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