Since May 9, 2025, the framing lumber composite price has fallen to $454 per 1,000 board feet. Softwood lumber prices have been affected due to rising tariffs, an increase in demand, and insufficient domestic production. The NAHB plans to negotiate a long-term deal with Canada to reduce tariffs, increase domestic production, and seek new markets for trading in order for lumber production to start blooming once again. According to NAHB, “Surveys conducted by Home Innovation Research Labs show that the average new single-family home uses more than 2,200 square feet…
Read MoreCategory: Building News
D.R. Domenichini Construction
The 2022 Regional CotY Award-winning remodel transformed a home to better suit the clients’ love for entertaining. By removing a load-bearing wall, the kitchen, dining, and living areas were opened up, enhancing the flow and connectivity of the spaces. Additional upgrades included a recessed exhaust hood in the kitchen to preserve the valley view, a reconfigured master bathroom for a spa-like experience, and the replacement of all windows and flooring. Read More
Read MoreFraming Lumber Prices
Since April 18, 2025, framing lumber prices fell by 0.6%, declining to about $480 per 1,000 board feet, and softwood lumber is priced about 23% higher compared to a year ago. Although there are many concerns about tariffs, NAHB continues to track the latest lumber prices and study the overview within the U.S. framing lumber market. Lumber and plywood prices showed slight declines week-over-week, with the Random Lengths framing lumber composite price down 0.6%, though still 23.5% higher year-over-year. Lumber futures remained flat for the week but have dropped 15.2%…
Read MoreRenovations Trend on Billionaire’s Row in San Francisco
Billionaire’s Row is known as the three blocks of Broadway between Lyon and Divisadero streets in San Francisco, California, and right now it might be the world’s most elegant construction site. Owned by the city’s elite, the strip of mansions has been undergoing quite the remodel as the high-profile owners show no sign of slowing down. The question lies in what specifically these rich owners are reconstructing in their already glamorous homes, which could be a greater tell into how the rest of the nation’s remodeling market might soon be…
Read MoreRemodeling Market Expected to See Gains in 2025, According to Expert Panel
According to industry experts at a panel hosted by the National Association of Home Builders (NAHB) during the International Builders’ Show in Las Vegas, aging housing stock, record levels of home equity and favorable demographics are creating positive growth prospects for the remodeling sector in 2025. According to NAHB, The outlook bodes well for the remodeling sector. Consumer inflation remains a concern as shelter costs continue to be sticky despite tightening measures by the Federal Reserve. And while lower mortgage rates are potentially on the horizon, the process will be…
Read MoreBoomers Are Spending Big Bucks on Home Renovations So They Don’t Have To Move
Renovations are rising, seen as more and more homeowners stay put, increasing the need to elevate their living spaces. Recently released, the 2024 Angi State of Home Spending report details home improvement projects that were most invested in by Americans last year. One generation in particular was found confirmed to be investing more money than any other age group in home renovations, with plan to move not coming anytime soon. Baby boomers, those born between 1946 and 1964, were found to spend an average of $14,140 on home projects in 2024,…
Read MoreHome Remodeling Firms Express Optimism for 2025
Remodeling firms and residential contractors have entered 2025 with renewed confidence, among other building industry professionals, after experiencing revenue and profitability declines in 2024. This is according to Houzz Inc.’s annual U.S. Houzz State of the Industry report which was recently released. Houzz’s survey found that more than three in five firms are anticipating a positive outlook for their business for the year ahead. Specialty contractors in particular are leading in confidence. According to Furniture Today, While 2024 proved challenging — marked by declining revenues and tighter project budgets —…
Read MorePrivate Residential Construction Spending Rises 1.5% in December
According to the latest U.S. Census Construction Spending data, private residential construction spending increased by 1.5% in December 2024. This was the third consecutive monthly increase since September 2024. On a year-over-year basis, the December report showed a 6% increase. According to Eye On Housing, The monthly increase in total private construction spending was primarily driven by higher spending on single-family construction and residential improvements. Single-family construction spending was up 1% for the month. This marks a continuation of growth after a five-month decline from April to August, aligning with steady…
Read MoreAmericans Spend More on Home Improvement as Housing Market Rebounds
Americans are beginning to spend more on backyard decks, spa-like bathrooms and other vanity improvements. Home remodeling and repair spending is anticipated to reach $325 billion this year, according to the Harvard Joint Center for Housing Studies. This level of spending hasn’t been seen since 2007. Marketing services company Hanley Wood offered a similar remodeling market outlook, projecting that the industry is to make a full recovery this summer following 12-straight quarters of growth. “The forecast looks very bright for the remodeling market,” said Tobias Morrison, national sales manager for…
Read MoreNearly Half of Homeowners Plan To Renovate in 2025
Though homeownership remains a goal for many Americans, high prices and mortgage rates are making it harder to move. According to a recent survey conducted by This Old House, 91% of homeowners don’t plan to sell in 2025, with many choosing to stay put because buying a new home is too expensive. Home prices are continuing to rise, reaching a median of $435,000 in October 2024 while mortgage rates stay high, thus housing affordability could become even harder to achieve. According to This Old House, To better understand homeowners’ plans…
Read More