Industry News Archives - Residential Contractor

Remodeling spending expected to slow down

July 29, 2026July 29, 2026 Taylor Moore

According to new data from Harvard University’s Joint Center for Housing Studies, annual spending on home improvements and repairs is expected to slow down until mid-2027. The latest Leading Indicator of Remodeling Activity (LIRA) suggests this will lead to a third straight quarter of decelerating year-over-year growth, with spending projected to be $519 billion through mid-2027. “Growth in remodeling permitting and retail spending on building products has flattened recently, suggesting that renovation activity is cooling,” said Rachel Bogardus Drew, Director of the Remodeling Futures Program at the Center. “Reduced housing…

Home accessibility upgrades fuel renovation boom

July 22, 2026 Taylor Moore

Home accessibility modifications are driving a renovation boom as homeowners bring multiple generations of family under one roof. Instead of a simple kitchen refresh, clients are prioritizing grab bars, wider doorways and walk-in showers that serve toddlers and elders alike. The most requested upgrades tend to focus on the rooms where families spend the most time and where safety risks run highest, including curb-less walk-in showers, wider doorways, lever-style doorknobs instead of round knobs and lighting improvements. Multigenerational household renovation has become common as more families choose to combine resources…

Construction drives job market growth in Louisiana

July 15, 2026 Taylor Moore

Louisiana added 16,700 jobs over the past year, ranking fourth in the South, with much of the growth coming from construction. This is a record high for the state, with payrolls topping two million employees for the first time. “The state had a record number of economic announcements last year and all of those look like they’re flowing from announcement into actual hiring of construction workers,” said Adam Knapp with Leaders for a Better Louisiana. “It’s across the state.” “Our growth and profits have increased dramatically over the past couple…

Existing-home sales slow in June

July 15, 2026 Taylor Moore

The National Association of REALTORS (NAR) Existing-Home Sales report was released on July 9, 2026. According to the report, existing-home sales slowed in June, decreasing by 2.4% month-over-month and increasing 2.8% year-over-year. “The back-and-forth in monthly home sales activity, driven by mild fluctuations in mortgage rates, shows how sensitive home buyers are to affordability conditions,” said NAR Chief Economist Lawrence Yun. “However, job gains, more than half a million since the beginning of the year, will continue to provide support for the housing market.” In June, Month-over-month existing-home sales increased…

21st Century ROAD to Housing Act becomes law

July 15, 2026 Taylor Moore

The National Lumber and Building Material Dealers Association (NLBMDA) announced its support of the enactment of H.R. 6644, the 21st Century ROAD to Housing Act. The landmark housing package includes more than 45 provisions aimed at increasing housing supply, reducing unnecessary regulatory barriers, modernizing federal housing programs and giving state and local governments additional tools to support residential construction. “The 21st Century ROAD to Housing Act demonstrates what Congress can accomplish when lawmakers work together to address the housing supply and affordability challenges facing communities across the country,” said Jonathan…

Remodeling market remains positive in second quarter

July 15, 2026 Taylor Moore

In the second quarter of 2026, the National Association of Home Builders Remodeling Market Index (RMI) posted a reading of 61, down one point compared to the previous quarter. Even with this slight decline, remodeler sentiment remains the standout sector within the housing industry. With current mortgage rates above the median outstanding rate for existing homeowners, the incentive to remodel instead of purchasing a new home persists due to this lock-in effect. The RMI is based on a survey that asks remodelers to rate various aspects of the residential remodeling…

Construction retains hiring momentum in June

July 8, 2026 Taylor Moore

According to an Associated Builders and Contractors (ABC) analysis of data by the U.S. Bureau of Labor Statistics, the construction industry added 11,000 jobs in June 2026. On a year-over-year basis, industry employment has expanded by 64,000 jobs, an increase of 0.8%. “Today’s jobs report was full of positive signs,” said ABC Chief Economist Anirban Basu. “The nonresidential segment continued to add jobs in June and has grown several times faster than the economy-wide average over the past 12 months. At the same time, the supply of labor appears adequate…

Existing-home sales expected to total 4.10 million

July 8, 2026 Taylor Moore

According to Realtor.com’s 2026 Housing Forecast Midyear Update, existing-home sales are expected to total 4.10 million as year-over-year growth improves in the second half of the year. Existing-home sales steadied in April before climbing in May. Year-to-date, existing-home sales are currently just 0.2% ahead of their prior year pace. The report expects growth to pick up in the second half of 2026, though by less than originally forecasted. As a result, existing-home sales are expected to grow 1.0% to an annual total of 4.10 million. The May existing-home sales data…