Tag Archive for ‘remodeling’

NAHB Releases Remodeling Estimates by Zip Code

NAHB has released estimates of spending on improvements to owner-occupied housing by zip code.  The estimates are based on a model relating improvement spending to five key variables (number of homes in the area, the share built in 1960s, share built in the 1970s, owners’ average income and level of education) for calendar year 2015.  The estimates show total spending on improvements,… Read More ›

Pending Sales Hold

After two consecutive monthly declines, the Pending Home Sales Index increased modestly in October from an upwardly revised September reading, and has increased year-over-year for 14 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased 0.2% in October to 107.7 and is 3.9% above the… Read More ›

HELOCs Continue to Shrink, But at Larger Banks

According the Federal Reserve Bank of New York the outstanding amount of home equity lines of credit (HELOCs) was the only debt category to record a decrease in the third quarter of 2015. Home equity lines of credit are an important source of financing for home remodeling projects. Over the quarter, the outstanding amount of HELOCs fell by 1.4%, $7… Read More ›

Existing Sales Realign

Existing home sales, as reported by the National Association of Realtors, decreased 3.4% in October, and the annual share of first-time buyers in 2015 fell to its second-lowest level since the survey was launched in 1981. Total existing home sales in October decreased to a seasonally adjusted rate of 5.36 million units combined for single-family homes, townhomes, condominiums and co-ops,… Read More ›

Share of Remodelers Reporting Labor Shortages Climbs Even Higher

Eighty percent of remodelers reported a shortage of finished carpenters (and 41 percent said the shortage was serious), according to special questions on NAHB’s Remodeling Market Index (RMI) survey in the 3rd quarter of 2015. That’s 8 percentage points higher than NAHB remodelers were reporting just a year ago. The RMI survey asked remodelers about availability of labor in the 12 categories recommended by Home… Read More ›

Pending Sales Down Again

Although the Pending Home Sales Index decreased for the second consecutive month in September to its second lowest reading in 2015, the PHSI has increased year-over-year for 13 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 2.3% in September to 106.8 from a downwardly… Read More ›

Existing Sales Rebound

Existing home sales, as reported by the National Association of Realtors, increased 4.7% in September, and have increased year-over-year for 12 consecutive months. However, the first-time buyer share decreased to 29%, down from 32% the previous month. Total existing home sales in September increased to a seasonally adjusted rate of 5.55 million units combined for single-family homes, townhomes, condominiums and… Read More ›

Pending Sales Retreat

The Pending Home Sales Index decreased in August, but has increased year-over-year for 12 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 1.4% in August, but is up 6.1% from the same month a year ago. While increasing in the West, the PHSI declined… Read More ›

Americans Spent $150 billion on Home Improvements & Repairs in 2013

If one wanted to understand the characteristics of the housing stock in the US, including its size, composition, physical conditions, home improvements, characteristics of recent movers, and housing costs, the American Housing Survey (AHS) would be the place to go. The AHS is conducted every other year by the Census Bureau and sponsored by the Department of Housing and Urban… Read More ›