According to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released on April 14, 2026, construction input prices increased 2.2% in March compared to the previous month. However, prices decreased in two of the three energy subcategories last month. Natural gas and unprocessed energy materials prices were down 51.7% and 7.7%, respectively. “Construction materials prices surged in March and are now up 4.8% year over year, the largest annual increase since January 2023,” said ABC Chief Economist Anirban Basu. “This monthly increase…
Read MoreCategory: Building News
Homeowners are remodeling instead of relocating
According to a recent survey from Redfin, more homeowners are choosing to renovate their homes rather than relocate. Around 43% of Americans renovated their home in the last year and another 33% plan to renovate in the next year. Approximately 65% of homeowners who recently renovated chose to upgrade their current home instead of moving. Of the homeowners who are planning to renovate in the next year, 71% say that they are remodeling instead of buying a new house. “Many Americans are choosing to stay put and make the home…
Read MoreRemodeling market sentiment holds steady
The National Association of Home Builders (NAHB) released their NAHB/Westlake Royal Remodeling Market Index (RMI) for the first quarter of 2026, indicating remodelers are remaining positive in the market. While the survey reported at a 62, a two point decrease from the Q4 report, NAHB holds that the sentiment of remodelers is still in steady place. Looking at the bigger picture, the reporting of 62 in Q1 is still stronger than Q2 (59) and Q3 (60) in 2025, despite new economic headwinds. “Ongoing positive remodeler sentiment is consistent with the NAHB…
Read MoreUSDA guarantees $115.2M for timber production advancement
On March 23, 2026 at the Advanced Bioeconomy Leadership Conference, the U.S. Department of Agriculture (USDA) Administrator for the Rural Business and Cooperative Service J.R. Claeys announced the U.S. Department of Agriculture is guaranteeing $115.2 million across eight states through the Timber Production Expansion Guaranteed Loan Program (TPEP) to ensure sawmills and other wood processing facilities have the necessary funding to establish, reopen, expand, or improve their operations. The states receiving the advancement include California, Idaho, Kansas, Louisiana, Maine, Oklahoma, Virginia and Wisconsin. “We cannot allow wildfires to devastate and…
Read MoreSenate passes major housing affordability bill
On March 12, 2026, the Senate passed a bill aimed at boosting the supply of housing and bringing down prices. The 21st Century ROAD to Housing Act, written by Sens. Tim Scott, R-S.C., and Elizabeth Warren, D-Mass., won 89 votes. The 303-page legislation creates a series of grants and pilot programs for housing construction. Another key section titled “Homes Are For People, Not Corporations,” prohibits large institutional investors from purchasing certain single-family homes, as a way to promote homeownership opportunities for families rather than corporations. “It will mean, for the…
Read MoreConstruction industry accounts for a quarter of recent added jobs
Construction added 33,000 jobs in January, accounting for nearly a quarter of the 130,000 jobs added in the month. This is according to the U.S. Labor Department’s Jobs Report. The recently released ADP national employment report, construction payrolls increased by 19,000 jobs in February. This is out of the total 63,000 jobs added in February, the most since July 2025. While ADP report is not always predictive of the BLS report, it shows a strong construction sector. “Construction continues to be a powerful engine of economic growth. Strong hiring reflects sustained…
Read MoreSupreme Court’s tariff ruling will offer construction relief
On Feb. 20, 2026, the Supreme Court threw out a large number of tariffs that were imposed on imports. This decision is expected to have numerous impacts, including some much-needed relief for building materials and inflation as a whole. A decline in material prices, specifically specialty equipment, HVAC and electrical systems, as well as fixtures, can be an expected result after the ruling. However, tariffs on lumber, steel, copper products and lumber are still in place. Contractors can still expect an overall lessening of material prices. Read More
Read MoreGlobal remodeling market on the rise
The global remodeling market is on track for substantial growth, expected to rise from $973.37 billion in 2025 to $1.02 trillion in 2026, driven by a 5% compound annual growth rate (CAGR). Factors contributing to this growth include increased residential renovation spending, early adoption of smart home upgrades, as well as heightened demand for aesthetic improvements and professional services. By 2030, the market is projected to reach $1.24 trillion, thanks to a greater emphasis on sustainable retrofits, energy-efficient materials and expanding commercial renovation ventures. Trends anticipated in the future include…
Read MoreRemodeling growth outlook in 2026
According to the latest Leading Indicator of Remodeling Activity (LIRA) from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, annual spending on improvements and maintenance to owner-occupied homes is expected to gradually slow through 2026. The LIRA predicts that year-over-year growth in home renovation and repair spending will be 2.9% early this year before easing to 1.6% growth by the end of the year. “Single-family home sales and permitting activity have picked up modestly from very low levels, which should support a nominal increase…
Read MoreHome improvements result in higher construction spending
Private residential construction spending was up 1.3% in October, rebounding from a 1.4% decline in September 2025, and was primarily driven by increased spending on home improvements. Despite the increase, total spending remained 1.3% lower than a year ago in response to navigating economic uncertainty, stemming from ongoing tariff concerns and elevated mortgage rates. According to the latest U.S. Census construction spending data, single-family construction spending declined 1.3% in October, consistent with the soft builder confidence reflected in the NAHB/Wells Fargo Housing Market Index (HMI). Compared to a year ago,…
Read More