Eye On Housing
According to the Census Bureau, private residential construction spending increased 2% during November. While the initial estimate for October was revised lower to 2.3% (from 3.4%) this was offset by an increase in the September reading from 0.6% to 1.5%. Private residential construction spending has risen in each of the last four months. On a year-over-year basis, outlays have increased… Read More ›
Tag Archive for ‘remodeling’
Top 2011 Posts: Who Claimed the Energy Efficient Improvement Tax Credit?
With the end of 2011 approaching, the contributors of NAHB’s Eye on Housing thought it would be useful to take a look at the updates that attracted the most readers over the last year. In August, we used IRS data to examine claims of the 25C remodeling tax credit and the 25D residential energy tax credit. The results indicate that… Read More ›
The Importance of Home Equity Loans for Remodeling
Historically, home equity loans have been an important source of funding for home improvement spending. The following analysis demonstrates this relationship and examines what impact recent declines in home equity loan use have had on the remodeling sector, as well as the positive effects of the residential energy-efficient tax credits. In particular, as home equity withdrawal declined during the Great… Read More ›
How Did Homeowners Use the Remodeling Tax Credit?
In a previous Eye on Housing post, NAHB examined the geographic distribution of 2009 claims of the $1,500 remodeling tax credit. We now have data from the IRS on specific kinds of energy-efficient and energy producing equipment that was installed in homes to qualify for the program, as reported on IRS Form 5695 (hat tip to Charlie McCrudden of the Air… Read More ›
Who Claimed the Energy Efficient Improvement Tax Credit?
In 2009, the rules for the tax code section 25C $1,500 energy-efficient improvement tax credit and the uncapped 25D 30% tax credit for home power production equipment tax credit were significantly expanded. The 25C credit is used to improve existing primary residences by installing energy-efficient windows, doors, roofing, and some home property like water heaters. The 25D credit, which rewards homeowners for installing solar panels,… Read More ›
Remodeling Slows in the Second Quarter
The National Association of Home Builders Remodeling Market Index (RMI) dipped to 43.9 in the second quarter of 2011 from the 46.5 posted in the first quarter of the year. Remodeling activity slowed for the same reasons new construction stagnated in recent months; namely a sluggish economy, lack of consumer confidence, and a strict lending environment. And as we noted last quarter, the… Read More ›