The Harvard Joint Center for Housing Studies (JCHS) released a study on the role immigrant labor plays on the remodeling industry. While immigrants account for an estimated one in five workers nationally,in the construction trades they represent about one in three workers. With the recent tightening of immigration laws, standards and work permits the team at JCHS predicts this could potentially strain the building and remodeling labor market. This is especially true in large metro areas. Their research shows that in the seven metros that issued at least 150,000 building…
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Fed cuts rates again, though mortgage rates are already down
The Federal Reserve announced another 25-basis-point cut to the federal funds rate on October 29, marking its second consecutive quarter-point reduction this fall. Though the Fed doesn’t directly control mortgage rates, these decisions influence borrowing costs across the economy. Anticipating the move, mortgage lenders had already begun lowering rates throughout October, with 30-year averages nearing 6%, the lowest level in more than three years. Despite this decline, housing demand remains muted, as mortgage applications have continued to fall. The Fed’s latest rate cut reflects its attempt to balance a slowing…
Read MoreNine major housing markets see price declines in August
U.S. home prices rose just 1.5% in August compared to a year earlier, marking the slowest pace of growth since 2023, according to the S&P CoreLogic Case-Shiller Home Price Index. This slowdown, down from July’s 1.7% increase, signals that the post-pandemic housing boom continues to lose momentum. In fact, nine of the 20 major metro areas tracked saw year-over-year price declines, and for the fourth consecutive month, home values failed to keep up with inflation. With inflation rising 2.9% during the same period, homeowners effectively lost purchasing power, while potential…
Read MoreCalifornia leans into the trades
California has approved $25 million in grants to fund 88 apprenticeship programs through the state’s Employment Training Panel (ETP), aiming to train more than 22,000 workers in skilled trades. The initiative, supported by employer-paid taxes rather than the state’s General Fund, focuses on building long-term, high-quality careers in industries like construction. State leaders emphasized that apprenticeships are key to developing sustainable career paths and strengthening California’s economy. According to officials, these programs align directly with industry needs and will provide participants with the tools to secure stable, well-paying jobs that…
Read MoreHow construction companies can solve the workforce shortage
The construction industry faces a growing labor shortage that’s expected to intensify over the next two years. An estimated 439,000 additional workers will be needed in 2025—and nearly 500,000 in 2026—as construction spending rises. This shortfall threatens to slow project timelines, raise costs, and compromise safety and quality. The industry’s long-term health depends on attracting new talent, especially younger workers and career changers and investing in their training and mentorship. Building proficiency in the trades takes time, making early and sustained investment in workforce development essential. The shortage is most…
Read MoreNew tariffs on building material and cabinet imports
The U.S. Commerce Department released a notice that they are implementing a 10% tariff on all timber and lumber imports and an additional 25% tariff on kitchen cabinets and furniture. They announced that imports of these materials and products pose a national security risk. The tariffs go into effect on Oct. 14. The tariffs on furniture products are expected to rise to 30% on Jan. 1, 2026. The kitchen cabinet levies are scheduled to double to 50% on the same date. Lumber America does not produce enough soft lumber to…
Read MoreContractor insights into industry trends
Findings from the Home Improvement Research Institute (HIRI) show that contractor activity has held steady throughout Q2 despite market growth softening. Current concerns include tariff and labor impact, but the outdoor materials market and demand for energy-efficient projects saw gains higher than anticipated. With data pointing to an increase in home improvement projects under $5k and a decrease in projects over $100k, the findings suggest homeowners are prioritizing inexpensive summer projects that take advantage of sunny weather or optimize efficiency in expecting the heat wave. Read More
Read MoreSurveys offer glimpse into home remodeling, improvement sentiment
Staying up to date with consumer interest is of vital importance in the remodeling industry, and luckily the National Association of Homebuilders (NAHB) and the Joint Center for Housing Studies (JCHS) at Harvard University have released surveys that detail what statistically receives the most attention from homeowners pursuing renovations. NAHB survey results found a slight decrease in measures from the first quarter, especially in the western part of the country despite an overall positive sentiment among the remodeling market. Directors at Harvard’s Remodeling Futures Program also pitched in their views…
Read MoreTexas timber industry eyes new opportunities amid steady markets
In the state of Texas, the timber industry continues to expand its economic impact. Continued contributions in homebuilding activity and production alongside new developments of forest management innovate the industry. Coupled with the usage of mass timber in place of concrete or steel, reinvestments and mill expansions surge confidence within Texas’ timber industry while housing markets slow down nationally. Facing such a shift, the state has adapted and continues to be a dominant force in residential construction by tapping into increasingly appealing markets such as energy-efficient homes and multifamily buildings,…
Read MoreConstruction Employment: A Tale of Two Cities
The U.S. construction industry has seen uneven growth, with employment rising in half of metro areas but stalling in others due to policy uncertainty and a shortage of skilled labor. While some regions, like Arlington and Boise, gained jobs thanks to strong investment and infrastructure demand, others, such as Riverside and New York, saw declines. Experts attribute the downturn to labor shortages and unclear federal policies, urging greater support for career and technical education to stabilize the workforce and then Emerald. Read More
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