Latest News

  • The home remodeling market in the U.S. expanded by more than 50 percent since the end of the Great Recession, according to Improving America’s Housing 2019, a new report by the Harvard Joint Center for Housing Studies. The 20th anniversary report in the series produced biennially by the Center’s Remodeling Futures Program finds that, as homebuilding struggled to meet the nation’... more »
  • Housing starts fell 11.2 percent in December to a seasonally adjusted annual rate of 1.08 million units, according to a report from the U.S. Department of Housing and Urban Development and the Commerce Department that was delayed due to the partial government shutdown. Multifamily starts fell 20.4 percent to a seasonally adjusted annual rate of 320,000 units while single-family production posted... more »
  • Residential improvement spending will continue to grow during the next two years, according to experts at the National Association of Home Builders International Builders’ Show in Las Vegas. Professional remodelers cited increased consumer confidence and demand as drivers for the growth. NAHB predicts remodeling spending for owner-occupied single-family homes will increase 1.6 percent this... more »
  • 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 »