In the first quarter of 2025, only 56% of professional remodelers reported undertaking projects designed to allow homeowners to age in place (AIP), which marked the lowest percentage since the National Association of Home Builders (NAHB) began tracking this data in 2004. This decline is due to economic uncertainties, high interest rates, and stock market volatility, which have dampened consumer spending and investment in home modifications. However, awareness of AIP concepts remains high, 98% of remodelers noting that most or some of their clients are familiar with AIP. According to…
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Building Material Price Growth Minimal in April
In April 2025, building material prices for new residential construction experienced minimal growth, offering a measure of relief to the housing industry. According to the latest Producer Price Index (PPI) report from the U.S. Bureau of Labor Statistics, prices for inputs to residential construction—excluding capital investment, labor, and imports—fell by 0.4% in April, following a revised increase of 0.8% in March. Year-over-year, the index grew by 0.6%, indicating a modest rise in construction input costs. Breaking down the components, the goods segment, which accounts for approximately 60% of the total…
Read MoreWhat Are the Highest Paying Jobs in Construction?
The Bureau of Labor Statistics’ Occupational Employment and Wage Statistics (OEWS) publishes data on approximately 400 occupations in the construction industry. At the top of the list of the highest-paying occupations in construction are managers. In the construction trades, elevator installers and repairers earn over $100,000 annually, followed by first-line supervisors of construction trades, who make over $80,000. According to NAHB, “In 2024, the highest paid occupation in construction is lawyers with wages of $180,520 per year, and the top 25% making over $238,720. Traditionally, Chief Executive Officers (CEOs) occupy…
Read MoreThe Year of Remodeling is Underway
American homeowners are expected to do more remodeling this year in 2025. Aging housing stock and record home equity are some of the factors expected to bolster the remodeling and repair industry this year, as stated in a recent article released by the National Association of Home Builders (NAHB). That view is also supported by NAHB’s quarterly surveys of its remodeler members. The trade group’s index that measures the confidence of remodelers has remained solidly in positive territory since June 2020. Residential remodeling activity is forecasted to post a 5%…
Read MorePresident Trump Delays Implementation of Tariffs on Goods From Canada and Mexico
Following President Trump’s announcement delaying the proposed tariffs on products from Canada and Mexico, National Association of Home Builders (NAHB) 2024 Chairman of the Board and a custom homebuilder from Wichita, Kansas Carl Harris, issued a statement as follows: “We commend President Trump for reaching an agreement with Canada and Mexico to delay the proposed tariffs, avoiding additional strain on a housing market already facing affordability challenges. Stability and certainty are essential for American businesses, consumers, and the strength of our economy. We urge all parties to remain committed to…
Read MoreFraming Lumber Prices
The framing lumber composite price decreased 2.0% for the week ending on Dec. 13. Despite the decline, lumber prices are 12.8% higher than they were one year ago. NAHB continually tracks the latest lumber prices and futures prices, and provides an overview of the behaviors within the U.S. framing lumber market. The information is sourced each week using the Random Lengths framing lumber composite price which is comprised using prices from the highest volume-producing regions of the U.S. and Canada. A summary of other wood prices, including plywood prices, is…
Read MoreNAHB/Westlake Royal Remodeling Market Index (RMI)
The NAHB/Westlake Royal Remodeling Market Index (RMI) is based on a quarterly survey of NAHB remodeler members that provides insight on current market conditions as well as future indicators for the remodeling market. New Methodology as of Q1 2020 The NAHB/Westlake Royal RMI is based on a quarterly survey of NAHB remodeler members that provides insight on current market conditions as well as future indicators for the remodeling market. The RMI survey asks remodelers to rate five aspects of the remodeling market as “good,” “fair” or “poor.” Each question is…
Read MoreFraming Lumber Prices
According to the NAHB, the framing lumber composite price increased 0.5% for the week ending on Oct. 4 compared to the previous week. Lumber prices are currently 3.6% lower than they were one year ago. NAHB continually tracks the latest lumber prices and futures prices, and provides an overview of the behaviors within the U.S. framing lumber market. The information is sourced each week using the Random Lengths framing lumber composite price which is comprised using prices from the highest volume-producing regions of the U.S. and Canada. A summary of…
Read MoreRemodeling Market Sentiment Improves in Fourth Quarter
According to the National Association of Home Builders (NAHB), NAHB released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the fourth quarter, posting a reading of 67, increasing two points compared to the previous quarter. The NAHB/Westlake Royal RMI survey asks remodelers to rate five components of the remodeling market as “good,” “fair” or “poor.” Each question is measured on a scale from 0 to 100, where an index number above 50 indicates that a higher share view conditions as good than poor. The Current Conditions Index is an average…
Read MoreNAHB Debuts New Index for Multifamily Activity
NAHB Debuts New Index for Multifamily Activity NAHB redesigned its Multifamily Market Survey in the first quarter of 2023 to make it easier to interpret and more similar to the NAHB/Wells Fargo Housing Market Index for single-family housing. Read More National Association of Home Builders https://www.nahb.org/news-and-economics/press-releases/2023/05/nahb-debuts-new-index-for-multifamily-activity
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