Latest News

  • A modest increase in interest rates offset a slight decline in home prices to keep housing affordability essentially level in the fourth quarter of 2018 and still hovering at a 10-year low, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). In all, 56.6 percent of new and existing homes sold between the beginning of October and end of... more »
  • Although less bullish than the past five years, companies across all industry sectors cite a positive outlook for 2019, according to Houzz Inc.’s 2019 Houzz U.S. State of the Industry. The report provides an outlook on 2019 and review of 2018 performance for residential renovation and design businesses based on data reported by nearly 4,800 professionals in the Houzz community across... more »
  • Sales of newly built, single-family homes rose to a seasonally adjusted annual rate of 657,000 units in November after an upwardly revised October report, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This marks the highest sales pace since March 2018. On a year-to-date basis, however, sales are down 7.7 percent from this time... more »
  • Residential building during December 2018 totaled $300.6 billion, which was down by 8 percent compared to the previous month, according to Dodge Data & Analytics. Single-family housing fell 5 percent while multifamily housing dropped by 15 percent. Analysts indicate the 5 percent fall is a settling back from the extended plateau throughout much of last year. The December pace for single-... more »
  • Builder confidence for newly built single-family homes rose two points to 58 this month in the NAHB/Wells Fargo Housing Market Index, buoyed in part by interest rates sitting just below 4.5 percent, according to the National Association of Home Builders. “The gradual decline in mortgage rates in recent weeks helped to sustain builder sentiment,” says NAHB Chairman Randy Noel, adding... more »
  • Nearly all respondents (87.6 percent) to the 2018 Off-Site Construction Industry Survey from the National Institute of Building Sciences Off-Site Construction Council indicated they had used offsite fabricated components in the past 12 months. NIBS defines offsite construction as “the planning, design, fabrication and assembly of building elements at a location other than their final point... more »
  • The NAHB Remodeling Market Index posted a score of 57 in the fourth quarter of 2018, only one point lower than the previous quarter. The score has held steady above 50 since the second quarter of 2013, which indicates more remodelers report market activity is higher compared to the prior quarter than report it is lower. Areas of market concern include rising labor and input costs, according to... more »
  • Gains in renovation and repair spending on owner-occupied homes in the U.S. will fall from 7.5 percent in 2018 to 5.1 percent in 2019, according to the most recent Leading Indicator of Remodeling Activity from the Remodeling Futures Program at the Joint Center for Housing Studies at Harvard University. Chris Herbert, managing director of JCHS, attributes the slowdown to slowing house price... more »
  • Houzz Inc. released the Q1 2019 Houzz Renovation Barometer, which tracks residential renovation market expectations, project backlogs and recent activity among businesses in the construction sector and the architectural and design services sector. The Barometer points to mixed expectations for home renovation market activity in the first quarter of the year.   “Current Barometer... more »
  • U.S. homeowners who leveraged secured financing to pay for renovations in 2017 were able to take on larger home improvement projects, with nearly three times the median spend of those who paid for renovations with cash-only ($32,000 versus $13,000), according to a study released today by Houzz Inc., in collaboration with Bank of America. The study explored the role of secured financing in U.S.... more »