The Harvard Joint Center for Housing Studies’ 2025 report, Improving America’s Housing, reveals significant disparities in home improvement spending between do-it-yourself (DIY) and professional projects, influenced by homeowner demographics and housing characteristics. In 2023, homeowners in the lowest income quintile (earning under $37,500) spent an average of $2,300 on improvements, whereas those in the highest quintile (earning over $172,000) spent approximately $9,100. High-income homeowners also invested nearly three times more in DIY projects and over four times more in professional renovations compared to their lower-income counterparts. ​ Age and housing…
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Top Remodeling Projects for Homeowner Satisfaction and Cost Recovery
The National Association of the Remodeling Industry (NARI), in collaboration with the National Association of Realtors®, released the 2025 Remodeling Impact Report, highlighting the top remodeling projects that bring homeowners the most satisfaction and the best cost recovery. Projects like adding a primary bedroom suite, upgrading the kitchen, and installing new roofing received perfect Joy Scores of 10, indicating high homeowner satisfaction. In terms of cost recovery, installing a new steel front door led with a 100% return, followed by closet renovations at 83% and new fiberglass front doors at…
Read MoreNAHB/Westlake Royal Remodeling Market Index (RMI)
The NAHB/Westlake Royal Remodeling Market Index (RMI) is a quarterly survey conducted by the National Association of Home Builders (NAHB) to gauge the health of the U.S. residential remodeling market. It comprises two main components: the Current Conditions Index, which assesses the present market for large, moderate, and small remodeling projects, and the Future Indicators Index, which evaluates the rate of incoming leads and project backlogs. Each component is scored on a scale from 0 to 100, with a score above 50 indicating that more remodelers view conditions as good…
Read MoreNational Home Remodeling Month Toolkit
The National Association of Home Builders (NAHB) celebrates May as National Home Remodeling Month, offering a comprehensive toolkit to support remodelers, local councils, and consumers. This initiative aims to highlight the benefits of hiring professional remodelers and to promote industry best practices. The toolkit includes customizable resources such as press releases, social media graphics, public service announcements, and educational materials, all designed to enhance public awareness and engagement .​ For remodelers and local home builder associations, the toolkit provides a step-by-step guide to effectively plan and execute promotional campaigns. Suggestions…
Read MoreHome Renovations Boost Joy and Resale Value, NAR Report Finds​
The National Association of REALTORS®’ 2022 Remodeling Impact Report highlights the significant benefits of home renovations, emphasizing both homeowner satisfaction and potential increases in property value. The report assigns “Joy Scores” to various projects, reflecting homeowners’ happiness post-renovation. Notably, projects like adding a primary bedroom suite, upgrading the kitchen, and installing new roofing achieved perfect Joy Scores of 10. Additionally, refinishing hardwood floors stood out, recovering 147% of its cost at resale, indicating that certain renovations can offer substantial returns on investment. The report also reveals that homeowners are motivated…
Read MoreWho Influences the Purchasing of Building Products?
A recent analysis by the National Association of Home Builders (NAHB) sheds light on who holds the most sway in selecting building products within the construction and remodeling sectors. On average, 60% of builders report having the most influence over product choices across 24 categories, while 49% of remodelers claim the same. Both groups indicate that subcontractors, dealers, suppliers, and architects have similar levels of influence. However, customers play a more significant role in remodeling projects, with 26% of remodelers acknowledging customer input as the primary influence, compared to 16%…
Read MoreContinued Gains Projected for Remodeling Amid Economic Uncertainty
​The Harvard Joint Center for Housing Studies’ latest Leading Indicator of Remodeling Activity (LIRA), released on April 17, 2025, projects a 2.5% year-over-year increase in homeowner spending on renovations and repairs, reaching a record $526 billion by the first quarter of 2026. This modest growth follows a period of decline after the pandemic’s peak expenditures, with recent upticks in existing home sales contributing to the anticipated steady rise in remodeling activities. Despite supportive factors like high home values and strong economic indicators bolstering homeowner improvement spending, the report cautions that…
Read MoreRemodel of the Week: Stunning Whole-House Renovation in Middleburg, Va.
BOWA’s recent whole-house renovation in Middleburg, Virginia, exemplifies a transformative approach to modernizing a dated property while preserving its original footprint. The homeowners, recognizing the need for extensive updates, collaborated with BOWA and Studio 360 to reimagine the space. Key enhancements included reconfiguring walls to improve flow and natural light, replacing all doors and windows, and refreshing wood flooring throughout the home. The kitchen was expanded with a bump-out and a new service station featuring a wine cooler, while the first-floor powder room was relocated for better accessibility. Additional touches,…
Read MoreABC: Tariffs Drive Surge in March Construction Materials Prices
​In March 2025, construction input prices rose by 0.5%, marking the third consecutive month of significant increases, according to an analysis by Associated Builders and Contractors (ABC) of U.S. Bureau of Labor Statistics data. Nonresidential construction input prices experienced a slightly higher uptick of 0.6% for the month. While crude petroleum prices declined during this period, the decrease was offset by substantial price hikes in natural gas, steel, copper, and lumber. Notably, the prices of iron and steel, steel mill products, and copper wire and cable each surged by over…
Read MoreLeading Indicator of Remodeling Activity (LIRA)
​The Leading Indicator of Remodeling Activity (LIRA), developed by Harvard’s Joint Center for Housing Studies, offers a short-term forecast of national spending on home improvements and repairs for owner-occupied homes. By analyzing a weighted average of eight key economic indicators—including home sales, housing starts, retail sales at building material suppliers, and home prices—LIRA estimates the annual rate of change in remodeling expenditures over a four-quarter horizon. This tool aids in identifying potential turning points in the home improvement business cycle and is updated quarterly. Notably, LIRA focuses exclusively on owner-occupied…
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