Tag Archive for ‘remodeling’

Eye on the Economy: Improvement for Housing

*Eye on the Economy is an NAHB newsletter that is published every two weeks and takes a larger view of recent economic and housing policy news. After soft economic and housing reports for February and March, recent data suggest a return to the trend of housing market improvement – a fitting theme for May, National Home Remodeling month. Leading the… Read More ›

Profile of the Typical Residential Remodeler

Data from an annual census of its members allows NAHB to construct detailed profiles of particular types of members, such as residential remodelers.  The latest census shows that in 2011, NAHB’s typical residential remodeler member had about $536,234 in total revenue, employed 6 people (4 construction and 2 non-construction workers), and started 3 housing units. The 2011 census further shows… Read More ›

Traditional Reasons for Remodeling are Still the Main Market Drivers

According to the remodelers who answered special questions on NAHB’s Remodeling Market Index (RMI) survey for the 1st quarter of 2012, the traditional “need to repair/replace old components” and “desire for better/newer amenities” are still why most customers choose to remodel their homes.  On a scale of 1 to 5 (where 1 indicates never or almost never, and 5 is… Read More ›

Local Economic Benefits of Remodeling

Home building and remodeling generate significant economic benefits. Since May is National Home Remodeling month, we thought we would look at the economic benefits remodeling activity has on the community where it takes place. According to NAHB estimates, for typical remodeling projects, every $10 million of total remodeling activity in an area generates: 78 local jobs $6.9 million local wage… Read More ›

NAHB Remodelers Tackle Jobs of All Sizes, but Greatest Share of Revenue Comes from Large Projects

Answers to questions on NAHB’s Remodeling Market Index (RMI) survey show that remodeling projects in every price range account for at least 9 percent of NAHB remodelers’ business (in dollar volume).  Even jobs that bring in less than $2,500 each account for 10 percent. Given the small amount of revenue per job, and the challenges that scheduling a large number… Read More ›

Bathrooms Top Kitchens as Most Popular Remodeling Project in 2011

Special questions included on NAHB’s Remodeling Market Index (RMI) survey show that home owners remain interested in updating the most heavily used rooms in their homes.  Bathroom remodeling was a common job in 2011 for 78 percent of the remodelers responding to the 1st Quarter 2012 RMI survey—highest for any type of remodeling project included on the questionnaire—followed by kitchen… Read More ›

Remodeling Market Index Little Changed in First Quarter

After increasing in the 4th quarter of 2011, NAHB’s Remodeling Market Index (RMI) declined by one point to 47 in the 1st quarter of 2012. Both of the RMI’s major components declined in the 1st quarter.  The RMI component measuring current market conditions dropped one point to 49, while the component indicating future remodeling activity fell two points to 44. The… Read More ›

Private Residential Construction Spending Increases in March

The Census Bureau’s newest report on construction spending showed a 0.7 percent jump in spending activity on private residential projects in March 2012. Initial estimates for January and February were revised from earlier readings of -0.1% and generally unchanged to an increase of 0.5% and a drop of 2.2%, respectively. The new single-family component for construction spending gained 3.8 percent… Read More ›