The United States remodeling market soared above $600 billion from the home improvement boom that rode the pandemic. Despite recent softening, is still remains 50% above pre-pandemic levels. However, industry fragmentation, inflation and a shortage of skilled trade labor jeopardize the ability of the industry to fully meet demand. According to Improving America’s Housing 2025, a recently released report from the Harvard Joint Center for Housing Studies (HJCHS), the resilient strength of the remodeling market has been supported by the aging of homes and households, as well as record-high property…
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How Much Homeowners are Spending on Renovations Across Major U.S. Cities
According to a new report from Instant Roofer that analyzed data from the latest American Housing survey, it’s seeming that instead of moving and picking up a new mortgage, more American homeowners are opting to stay put and renovate. Their spending proves it: Home improvement spending has jumped to $790 billion annually — up 60% since 2019. Homeowners spend an average of $9,000 annually on bigger home improvement expenses, according to the survey. In certain U.S. metros however, homeowners are spending up to thousands more. GoBankingRates detailed the major cities…
Read MorePrices and Trends in the U.S. Framing Lumber Market Released
The week-to-week framing lumber composite price increased 1.8% on Feb. 28, 2025, rising to $461 per 1,000 board feet. Lumber prices are now 14.4% higher than they were one year ago. Each week the National Association of Home Builders (NAHB) sources information using the Random Lengths framing lumber composite price, comprised using prices from the highest volume-producing regions of the U.S. and Canada, to give professionals access to the latest on lumber prices and future prices, providing an overview of the behaviors within the United States framing lumber market. According…
Read MoreNavigating Regulations and Permits: Top Tips for Remodelers
While adhering to regulations and obtaining permits can be a time-consuming process, the benefits far outweigh the inconveniences for remodelers and their projects. In a recent article by the National Association of the Remodeling Industry (NARI), the organization details essentials tips for managing regulations and permits. According to NARI, discussing its first consideration, Building codes may vary significantly by location. It is crucial to check with local authorities to determine whether a permit is needed for your specific project, especially if it involves structural changes or altering the home’s living…
Read MoreTips for Remodelers Working with Contract Designers
Remodelers know that working with designers is beneficial and attractive to clients. Still, for many remodeling businesses, it makes more sense to contract with outside designers rather than hire an in-house design team. According to the National Association of the Remodeling Industry (NARI), the first tip is to decide what type of designer you’ll be needing to work with: Generally, there are two types of designers with whom remodelers work. First, is an architectural designer, who considers the structure and framework of the remodel. They might draft and create blueprints.…
Read MoreStrong Q4 Performance Fuels Optimism Among Remodeling Businesses
Houzz Inc. recently released its Q1 2025 Houzz U.S. Renovation Barometer. The Q1 2025 report finds that businesses across the building industry are optimistic about activity in the first quarter of this year. Expectations among construction professionals are at their highest since Q3 2022. This rising optimism follows improved Q4 business activity compared with Q3. Recent business activity indicators for both industry sectors have increased and are above the 50-point benchmark, indicating that more firms reported improvements than declines in business performance. “Strong Q4 performance and recent federal interest rate…
Read MorePrices and Trends in the U.S. Framing Lumber Market
The framing lumber composite price increased 0.5% for the week ending on January 3. This is after climbing 1.2% the week prior. Lumber prices are now 8.7% higher compared to what they were one year ago. The National Association of Home Builders (NAHB) continually tracks the latest lumber prices and futures prices, and provides an overview of the behaviors within the United States framing lumber market. The information is sourced every week using the Random Lengths framing lumber composite price which is comprised using prices from the highest volume-producing regions…
Read MoreEnergy-Efficient Home Improvement Tax Credits and Rebates for 2025
Today’s homebuyers are on the hunt for “green” construction. These are homes built with environmental considerations in mind. When buying a previously owned home, some buyers also seek eco-friendly materials and options. Zillow reports that homes equipped with some environmentally friendly features frequently will sell faster, in fact, and for more money than properties without similar items. If your client want’s to list their home on the market in 2025, or remodel it for their own enjoyment, following these five suggestions in a home renovation project will likely boost the…
Read MoreBobcat to Debut Several New Machines, Product Innovations at Equip Expo 2024
Bobcat Company, a global equipment, innovation and worksite solutions brand, will showcase several all-new and recently introduced grounds maintenance and turf renovation machines at Equip Expo. New Utility Tractors on Display Introduced in June 2024, Bobcat’s utility tractor lineup (UT6066, UT6566, UT6573) offers a competitive advantage for hauling, digging, raking, scraping and more. Bobcat will display its UT6573 at this year’s show. Bobcat utility tractors feature 12×12 powershuttle transmissions that deliver smooth shifting without stepping on a clutch pedal. Powered by turbocharged, Tier 4 diesel engines, these tractors offer robust…
Read MoreFour Things to Know Before Building a New Home
Homes are incredibly complicated structures with a wide variety of moving parts that require different industry professionals, such as architects, engineers and builders, to put the pieces into place. Four things to know before embarking on new construction are: buying new doesn’t have to mean spending more; always have a home inspection; pay attention to insurance premiums; and expect the unexpected. U.S. New & World Report delves into the specifies of each note in its recent article, beginning with the first of them mentioned above. According to the article, Although…
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