April Private Residential Construction Spending Dips

Private residential construction spending declined for the third month in a row in April, driven by drops in single-family construction and home improvement projects. Compared to a year earlier, total residential spending was down 4.8%, with single-family spending falling 1.1% in April—ending a seven-month growth streak—and multifamily spending down 11.3% year-over-year. Elevated mortgage rates, material tariff concerns, and broader economic uncertainty continue to weigh heavily on the housing sector. Read More  

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Remodeling Trends Reflect Shifts in Homeowner Priorities

The residential remodeling industry is rapidly growing as homeowners seek more functional, sustainable and tech-integrated living spaces, with the market projected to hit $129.07 trillion by 2030. This shift goes beyond aesthetics, reflecting new lifestyles like remote work and eco-conscious living, leading to demand for innovations like energy-efficient materials and adaptable home designs. According to Danny’s Dry Wall, “Aging homes and rising property values driven by investors accounting for 14.8% of home purchases in early 2024 are sustaining demand. As budgets recover post-2024, homeowners are investing in remodels that enhance…

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