The Harvard Joint Center for Housing Studies’ State of the Nation’s Housing 2025 report highlights mounting affordability pressures as high home prices, rising interest rates, insurance premiums and rents push home sales to a 30‑year low and burden a record number of households, particularly renters, with excessive housing costs. Despite a surge in multifamily development and inventory growth, supply remains misaligned with need, favoring higher-cost units while lower-rent stock continues to decline. Read More
Read MoreAuthor: Karla Valdez
Home Depot acquires billions in the building supply business
Home Depot is acquiring specialty building products distributor GMS for $4.3 billion in equity, as part of its ongoing strategy to expand in the professional building materials sector. This follows its $18 billion purchase of SRS Distribution last year, further strengthening its ability to serve residential and commercial contractors. The deal positions Home Depot to compete more aggressively by creating a massive supply network with over 1,200 locations and 8,000 delivery trucks. Read More
Read MoreDemand for new construction is quickly weakening
After years of resilience, homebuilders are now grappling with a sharp slowdown in the housing market as high prices, mortgage rates and economic uncertainty dampen buyer demand. New home sales fell 14% in May, and many builders, including Lennar and KB Home, are cutting prices and scaling back development plans amid rising unsold inventory. Despite increased supply from both new and existing homes, sales remain sluggish in most markets. According to Yahoo Finance, “Consumers grew increasingly apprehensive about the economy and rising geopolitical tensions, driving consumer confidence to a 13-year…
Read MoreFive ways to prevent budget overruns in construction projects
Budget overruns in construction often stem from inaccurate estimates due to outdated or overly optimistic assumptions about labor, materials, timelines and external factors like weather. Experts from Procore and Autodesk stress the importance of early risk assessments and thorough preconstruction planning to catch potential issues and build realistic contingency plans. Leveraging project management technology can help contractors identify problems sooner and make informed decisions to stay on track and avoid costly delays. Read More
Read MoreThree decisions that make or break a shower remodel
Bestbath emphasizes that successful shower remodels depend on decisions made early in the process, not just design choices. Homeowners should carefully consider shower system type (tile vs. pre-fab), drain placement and support for accessories like grab bars, as each impacts long-term performance, cost and ease of installation. Pre-fab systems offer a low-maintenance, durable solution that can help avoid common remodeling pitfalls. Read More
Read MoreMay home sales rates weigh on housing market
Existing U.S. home sales inched up 0.8% in May to an annual rate of 4.03 million, but it was still the slowest May since 2009 due to high mortgage rates and rising prices. The national median home price hit a record $422,800 for the month, up 1.3% year-over-year, though price growth is slowing. Persistent mortgage rates near 7% continue to limit affordability, holding back both buyers and sellers despite a growing number of homes on the market. Read More
Read MoreLos Angeles, CA Housing Market
In May 2025, the median home sale price in Los Angeles reached approximately $1.055 million—a modest 0.5% increase from a year ago—while homes sold more slowly, taking about 45 days on average compared to 39 days last year. Sales volume dipped about 7% year-over-year, with 1,617 homes sold compared to 1,738 the previous year. Market competitiveness remains moderate, featuring an average of three offers per home and a sale-to-list price of 99.8%, though conditions are easing slightly from peak demand. Read More
Read MoreConstruction Jobs Growth Hides Underlying Turmoil
Construction job growth has slowed sharply in 2025, averaging just over 5,000 new jobs per month from March to May—down significantly from late 2024. Residential sub-trades have been hit hardest, losing 22,000 jobs and shrinking the workforce by 2% since September 2024. Despite the slowdown, construction workers continue to earn a 24% weekly pay premium over the private sector, driven by higher hourly wages and longer work hours. Read More
Read MoreFraming Lumber Prices
Lumber prices continued their decline for the 11th straight week, with the framing lumber composite price falling to $424 per 1,000 board feet—the lowest since October 2024. Although prices are down 4.1% over the past month, they remain 13.1% higher year-over-year. U.S. lumber availability also hit a low not seen since 2019, as both domestic production and imports, especially from Canada, decreased in the first quarter of 2025. Read More
Read More2025 ASID Economic Outlook Report
The American Society of Interior Designers (ASID) has released its 2025 Economic Outlook report, highlighting how tariffs, rising costs, and labor shortages are creating an uneven recovery for the design industry. While moderate consumer spending and employment growth offer some stability, persistent challenges like paused infrastructure projects and high housing prices demand that designers remain agile and forward-thinking. The report identifies new opportunities in sectors such as adaptive reuse, build-to-rent housing, and aging-in-place design, offering data-driven insights to help interior designers navigate and grow in a shifting economic landscape. Read…
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