Eye On Housing
Author Archives
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NAHB Releases Remodeling by Zip Code Estimates for 2018
With this post NAHB announces the release of its latest estimates of spending on improvements to owner-occupied homes at the zip code level. The new estimates are for calendar year 2018 and include the number of owner-occupied homes, the number with improvement spending during the year, the average spending per improved home, total spending on improvements within the zip code, and the drivers of remodeling activity used to… Read More ›
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Aging in Place on the Rise as a Reason to Remodel
According to a recent NAHB survey, “desire for better/newer amenities” and “need to repair/replace old components” once again ranked as the top reasons owners remodel their homes. However, several other reasons to remodel are gaining ground, particularly the desire to be able to age in place. The survey took the form of a special question on NAHB’s Remodeling Market Index (RMI) instrument for the first quarter of 2018. … Read More ›
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For Remodelers, Labor Shortages Resume Aggravating Trend
Ninety-one percent of remodelers reported shortages of labor available to perform finished or rough carpentry work, and over 40 percent said these shortages were serious, in response to special questions on NAHB’s Remodeling Market Index (RMI) survey for the 3rd quarter of 2017. The RMI survey asked remodelers about availability of labor in 15 specific occupations that were either specifically recommended by Home Builders… Read More ›
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Remodeling in 2017: Baths Reclaim Top Spot from Kitchens
May is National Home Remodeling Month. Following the tradition established in recent years, the month’s first related post covers the most common types of remodeling projects performed by NAHB Remodelers during the previous calendar year. Results come from a special question on NAHB’s Remodeling Market Index (RMI) survey for the first quarter of 2018. The results show kitchen and bathroom remodeling… Read More ›
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Builders’ Use of Aerial Drones Takes Off
About two years ago, NAHB reported that 22 percent of single-family builders had used aerial drones (or unmanned aircraft systems, as the Department of Defense calls them) at least once in their construction businesses. But the times they are a-changing. When we revisited the issue in March of this year, we saw that the percentage of builders using drones had… Read More ›
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New NAHB Estimate: 58,600 Single-family Tear-down Starts in 2017
Roughly 6.8 percent of single-family homes started in 2017 qualify as tear-down starts, according to NAHB’s latest estimates. This is down from 10.2 percent in 2016, due primarily to the sharp reversal of a 2016 spike in tear-down percentages reported from the western part of the country. The abovementioned results come from special questions appended to the February 2018 survey for the NAHB/Wells Fargo Housing Market… Read More ›
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Single-family Builders Score High on Energy Efficiency
Last week’s post showed that about one-fourth of the typical homes built by a sample of 246 single-family builders in 2016 had enough green features to quality for a bronze rating under the 2015 National Green Building Standard™ (NGBS). A major reason is the high marks the homes tended to receive under the energy efficiency section of the NGBS. The… Read More ›
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Households Age 55+: Worth $62 Trillion
Households age 55 or older earn about half of all household income in the U.S., but hold over two-thirds of the residential equity and other household wealth, according to the most recent (2016) Survey of Consumer Finances (SCF). The SCF is conducted every three years by the Federal Reserve and serves as one of the few federal sources of information… Read More ›
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Green Single-family Building Practices
In a sample of homes from 246 single-family builders, about one-fourth have enough green features to meet the minimum point requirement for certification under the National Green Building Standard™ (NGBS). However, only about 11 percent of the homes actually have NGBS certifications, according to a recently released report from NAHB. The report is based on NAHB’s Green Practices Survey, which was conducted in several stages during 2017 and collected information on sustainable and… Read More ›
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One-Person Construction Trade Firms
From the trough of the housing downturn in 2010 through 2015, the number of homes under construction increased by 131 percent and the number of employees working in construction trade businesses increased by 18 percent. Over that span, how much would you guess the number of one-person construction trade firms increased? The answer, believe it or not, is not at all. … Read More ›