The 21st Century ROAD to Housing Act, a major bipartisan housing reform package, inches closer to passing with many reforms. The most important part of the bill for remodelers is in Sec. 202- The Whole-Home Repairs Act. This would create a pilot program through 2031 at the U.S. Department of Housing and Urban Development to administer grants and forgivable loans for a whole-home repairs program. This program aims to repair the nation’s aging housing stock. Currently, the median age of owner-occupied homes is 42 years old. While specific funding amounts…
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Existing home sales expected to increase
The National Association of REALTORS (NAR) Chief Economist Dr. Lawrence Yun reported that home sales are expected to be modestly better in the second half of 2026, while NAR’s current forecast calls for existing-home sales to rise 4% this year. Meanwhile, mortgage rates are projected to average 6.5% in 2026. Yun added that housing wealth accumulation will continue in 2026, with the typical homeowner gaining approximately $16,000 in wealth this year. Despite headwinds in the housing market, Yun said the U.S. economy will avoid a recession in 2026. Dr. Jessica Lautz,…
Read MoreResidential building material prices increase
Wholesale prices of materials used in residential construction increased in May 2026, a direct result of rising energy costs. Residential building material prices rose at their highest yearly rate since January 2023, as prices were up 4.4% from 2025 and up 0.7% over May. The price index for inputs to new residential construction rose 1.3% in May and was up 6.9% from last year. The price of goods used in new residential construction, including energy, was up 2.1% over the month and up 8.3% from last year, while the price…
Read MoreHousing advocates urge Congress to address affordability
On June 10, 2026, more than 1,100 builders, remodelers and other housing industry professionals went to Capitol Hill to call for congressional action. Attendees urged Congress to improve affordability and help builders to increase the production of affordable, attainable homes. In more than 300 meetings with lawmakers, housing advocates focused on the following priorities aimed at improving affordability and increasing supply: landmark housing legislation, workforce development and immigration and permitting obstacles. “Members of the housing community from across the country are in Washington for the National Association of Home Builders…
Read MoreExisting home prices outpace new-builds
According to new analysis from the National Association of Home Builders (NAHB), an unusual trend continues to emerge in the housing market: new homes are less expensive than existing ones. While only a small gap, Q1 2026 reported the median price for a new single-family home was $403,200, compared to an existing home at $404,600. The relationship switched in the post-pandemic market with slow construction for new-builds and pandemic purchasers holding on to their low mortgage rates. Although, there are extreme regional pricing gaps across the U.S. In the South,…
Read MoreBuilding materials see price increase
According to the most recent Producer Price Index (PPI), prices of building materials used in residential construction were up 3.7% in April. Soaring energy prices caused a spike in the overall April PPI reading to 6% compared to last year. Including energy, the price index for inputs to new residential construction was up 5.9% from last year, with the price of goods used in new residential construction up 6.1% from last year. Among input goods, the largest year-over-year increase was for No. 2 diesel fuel as prices were 74.4% higher than…
Read MoreU.S. home builder sentiment increases in May
Home builder sentiment increased in May across the U.S. This month, the National Association of Home Builders/Wells Fargo Housing Market Index rose to 37, up from 34 in April. About 32% of builders cut prices in May as a sale incentive to potential homebuyers. The price cut was down from 36% in April, with an average price reduction of 6%, versus 5% in April. The use of sales incentives was 61% in May, up from 60% in April, the 14th straight month at 60% or higher. The survey’s measure of current…
Read MoreThe revival of HELOCs
According to New York Fed data, homeowners are more likely to tap into Home Equity Lines of Credit (HELOC). In Q1 2026, HELOC balances rose by $12 billion, increasing the total to $446 billion. Around 43% of Americans renovated their home in the last year and another 33% plan to renovate in the next year. Tapping into this equity allows homeowners to complete necessary renovations such as roof replacements or increase the value of homes with kitchen and bath remodels. This demand continues to debt limits which increased 1.4%. “Homeowners who…
Read MoreExisting home sales rise
New data from April 2026 reported existing-home sales increased by 0.2%. While a slight increase, this rebound from March’s nine-month low exhibits signs of a balancing market. The average sales price of existing homes increased 0.9% from the previous year at $417,700. Regionally, the Midwest and South saw the most increase at +2.2% and +0.5% respectively. The Northeast remained unchanged while the West fell 2.6%. The percent of first-time homebuyers are also up, at 33%. “Despite mixed macroeconomic signals—including a record-high stock market and historically low consumer confidence—home sales were…
Read MoreConstruction jobs see growth since February
According to the newly released U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS), jobs in the construction industry had 224,000 openings in March. This is a significant increase to the reported slow February numbers of 2001,000. JOLTS includes all positions that are open on the last business day of the month. Overall in March the total number of job openings was relatively unchanged at 6.9 million. Compared to the same time last year, jobs in the construction industry is down 54,000 jobs. “Construction industry hiring rebounded from February’s…
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