Tag Archive for ‘remodeling’

Many Remodelers Are Now Creating ADUs

Despite some recent improvement, household formations have been lagging since the latest downturn.  The consequences have been many—including a lower rate of housing production, a lower rate of replacing older housing units, a therefore aging housing stock, and increased doubling up.  Remodeling is also potentially affected, as the tendency to double up may be accommodated in part by modifying an… Read More ›

Curb-less Showers Now Among the Most Common Aging-In-Place Projects

Last week’s post covered general issues related to Aging-In-Place (such as how many professional remodelers do it, and how many of their customers are receptive to it), using data from NAHB’s Remodeling Market Index (RMI) survey for the 4th quarter of 2018.  This post covers some of the more detailed questions from the same survey, including specific types of Aging-in-Place projects undertaken… Read More ›

Remodeling to Age-In-Place Remains Strong, Still Mostly for Older Home Owners

According to NAHB’s Remodeling Market Index (RMI) survey for the 4th quarter of 2018, over three-fourths of professional remodelers undertake projects designed to allow home owners to Age-in-Place.  Their customers are generally familiar with the Aging-in-Place concept, and at least somewhat receptive to it.  However, in practice remodelers continue to perform Aging-in-Place work mostly for customers age 55 or older,… Read More ›

For Remodelers, Shortages of Skilled Labor Remain Elevated

In response to NAHB’s Remodeling Market Index (RMI) survey for the 3rd quarter of 2018, roughly 85 percent of remodelers reported shortages of workers available to perform finished or rough carpentry, and nearly half (48 percent) classified the shortage of finished carpenters as serious.  Although these percentages are down slightly from a year earlier, they remain seriously elevated. The RMI… Read More ›

Pending Home Sales Stabilize

Pending home sales increased in September, but have decreased on an annual basis for nine consecutive months. The Pending Home Sales Index increased 0.5% in September, but remains down 1.0% year-over-year. 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 104.6 in September,… Read More ›

Existing Sales Fall

Existing-home sales in September declined 3.4% to the lowest level since November 2015, and are now down 4.1% from a year ago. The first-time buyer share of 32% was up from 31% last month and 29% a year ago. The National Association of Realtors reported that 47% of homes sold in September were on the market less than a month…. Read More ›

Remodeling Confidence Remains Solid

The Remodeling Market Index (RMI) remained stable with a reading of 58 in the third quarter of 2018, according to the National Association of Home Builders (NAHB). The RMI has been at or above 50 since the second quarter of 2013, which indicates that more remodelers report market activity is higher than report it is lower (Figure 1). The overall… Read More ›

Pending Home Sales Continue to Slide

Pending home sales have decreased on an annual basis for eight consecutive months, and have declined month over month in four of the past five months. The Pending Home Sales Index decreased 1.8% in August, and is now down 2.3% year over year. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the… Read More ›

Existing Sales Steady

Existing-home sales were unchanged in August, and are 1.5% below the level a year ago. The first-time buyer share of 31% was down from 32% last month and unchanged from a year ago. The National Association of Realtors reported that 52% of homes sold in August were on the market less than a month. The August inventory was also unchanged,… Read More ›