The National Association of REALTORS®’ 2022 Remodeling Impact Report highlights the significant benefits of home renovations, emphasizing both homeowner satisfaction and potential increases in property value. The report assigns “Joy Scores” to various projects, reflecting homeowners’ happiness post-renovation. Notably, projects like adding a primary bedroom suite, upgrading the kitchen, and installing new roofing achieved perfect Joy Scores of 10. Additionally, refinishing hardwood floors stood out, recovering 147% of its cost at resale, indicating that certain renovations can offer substantial returns on investment. The report also reveals that homeowners are motivated…
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Who Influences the Purchasing of Building Products?
A recent analysis by the National Association of Home Builders (NAHB) sheds light on who holds the most sway in selecting building products within the construction and remodeling sectors. On average, 60% of builders report having the most influence over product choices across 24 categories, while 49% of remodelers claim the same. Both groups indicate that subcontractors, dealers, suppliers, and architects have similar levels of influence. However, customers play a more significant role in remodeling projects, with 26% of remodelers acknowledging customer input as the primary influence, compared to 16%…
Read MoreContinued Gains Projected for Remodeling Amid Economic Uncertainty
The Harvard Joint Center for Housing Studies’ latest Leading Indicator of Remodeling Activity (LIRA), released on April 17, 2025, projects a 2.5% year-over-year increase in homeowner spending on renovations and repairs, reaching a record $526 billion by the first quarter of 2026. This modest growth follows a period of decline after the pandemic’s peak expenditures, with recent upticks in existing home sales contributing to the anticipated steady rise in remodeling activities. Harvard Joint Center for Housing Studies Despite supportive factors like high home values and strong economic indicators bolstering homeowner…
Read MoreRemodel of the Week: Stunning Whole-House Renovation in Middleburg, Va.
BOWA’s recent whole-house renovation in Middleburg, Virginia, exemplifies a transformative approach to modernizing a dated property while preserving its original footprint. The homeowners, recognizing the need for extensive updates, collaborated with BOWA and Studio 360 to reimagine the space. Key enhancements included reconfiguring walls to improve flow and natural light, replacing all doors and windows, and refreshing wood flooring throughout the home. The kitchen was expanded with a bump-out and a new service station featuring a wine cooler, while the first-floor powder room was relocated for better accessibility. Additional touches,…
Read MoreABC: Tariffs Drive Surge in March Construction Materials Prices
In March 2025, construction input prices rose by 0.5%, marking the third consecutive month of significant increases, according to an analysis by Associated Builders and Contractors (ABC) of U.S. Bureau of Labor Statistics data. Nonresidential construction input prices experienced a slightly higher uptick of 0.6% for the month. While crude petroleum prices declined during this period, the decrease was offset by substantial price hikes in natural gas, steel, copper, and lumber. Notably, the prices of iron and steel, steel mill products, and copper wire and cable each surged by over…
Read MoreLeading Indicator of Remodeling Activity (LIRA)
The Leading Indicator of Remodeling Activity (LIRA), developed by Harvard’s Joint Center for Housing Studies, offers a short-term forecast of national spending on home improvements and repairs for owner-occupied homes. By analyzing a weighted average of eight key economic indicators—including home sales, housing starts, retail sales at building material suppliers, and home prices—LIRA estimates the annual rate of change in remodeling expenditures over a four-quarter horizon. This tool aids in identifying potential turning points in the home improvement business cycle and is updated quarterly. Notably, LIRA focuses exclusively on owner-occupied…
Read MoreNGBS Green Remodeling Certification: Enhancing Sustainability in Residential Renovations
The National Green Building Standard (NGBS) Green Remodeling Certification, administered by Home Innovation Research Labs, offers a structured pathway for homeowners and builders to integrate sustainable practices into residential renovation projects. This certification emphasizes improvements in energy and water efficiency, aiming to reduce environmental impact while enhancing home comfort and durability. The program accommodates a range of project scopes, from minor updates to comprehensive renovations, across various residential structures, including single-family homes, townhouses, and multifamily buildings. Certification levels—Bronze, Silver, Gold, or Emerald—are awarded based on the extent of green practices…
Read More2025 Remodeling Impact Report Highlights Homeowner Satisfaction and Cost Recovery
The 2025 Remodeling Impact Report, released by the National Association of Realtors® (NAR) and the National Association of the Remodeling Industry (NARI), reveals that homeowners derive the most satisfaction from adding a primary bedroom suite, upgrading the kitchen, and installing new roofing—each earning a perfect Joy Score of 10. In terms of cost recovery, replacing a steel front door offers the highest return at 100%, followed by closet renovations at 83% and new fiberglass front doors at 80%. These findings underscore the value homeowners place on both personal enjoyment and…
Read MoreRemodeling Market Sentiment Down in the First Quarter
Despite a five-point decline in the first quarter of 2025, the NAHB/Westlake Royal Remodeling Market Index (RMI) remains in positive territory at 63, indicating that more remodelers view market conditions as good than poor. Rising homeowner equity and limited opportunities to move into other homes continue to support the home improvement market and keep remodeler sentiment positive. Notably, small remodeling projects under $20,000 maintained a strong index score of 76, reflecting steady demand in this segment. “Rising homeowner equity and limited opportunities to move into other homes is still supporting…
Read MoreWhere do builders and remodelers buy building products?
According to recent NAHB surveys, specialty retailers, lumber yards, and wholesale distributors are the primary sources for building products, collectively accounting for about 70% of purchases by both builders and remodelers. Lumber yards are particularly favored for structural materials like plywood, sawn lumber, and engineered wood products. Notably, remodelers are three times more likely than builders to shop at home improvement centers, especially for hand and power tools, which are commonly purchased by both groups at these outlets. NAHB explains one major difference between builders and remodelers was the share…
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