Tag Archive for ‘remodeling’

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 ›

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 ›

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 ›

Pending Home Sales Increase Slightly in March

Pending home sales increased slightly in March, but the lack of choice among prospective buyers continues to impede the number of new contracts. The Pending Home Sales Index increased 0.4% in March, but remains 3.0% below the level a year ago, and the PHSI declined on an annualized basis for the third straight month. The Pending Home Sales Index (PHSI)… Read More ›

Existing Sales Rise 1.1 Percent in March

Existing-home sales increased 1.1% in March, but remain down 1.2% from a year ago. The first-time buyer share of 30% is also down from 32% a year ago. The National Association of Realtors reported that 50% of homes sold last month were on the market less than a month. The March inventory increased 5.7%, but remains 7.2% below the level… Read More ›

Housing Share of GDP

With the release of the final estimate of fourth quarter 2017 GDP growth (a 2.5% annual growth rate), housing’s share of gross domestic product (GDP) rose slightly to 15.4%. The home building and remodeling component – residential fixed investment – also increased slightly, rising to 3.5%. Housing-related activities contribute to GDP in two basic ways. The first is through residential fixed investment (RFI). RFI is effectively the measure… Read More ›

Private Residential Spending Grew in February

NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate of $533.4 billion in February, a gain of 0.1% from the upwardly revised estimate of January. Over the past 12 months, total private residential construction spending was up 5.5%. The monthly gains are largely attributed to the large increase… Read More ›

Pending Home Sales Rebound

After a slow start to the year, the Pending Home Sales Index increased 3.1% in February, but remains 4.1% below a year ago. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR). The PHSI increased to 107.5 in February from a downwardly 104.3 in January. The PHSI… Read More ›

Existing Sales Increase 3 Percent in February

Existing-home sales increased 3.0% in February, but the first-time buyer share remained at 29%, compared to 31% a year ago. The National Association of Realtors reported that 46% of homes sold last month were on the market less than a month. The February inventory increased 4.6%, but remains 8.1% below the level a year ago, and has decreased for 33… Read More ›