Many homeowners are choosing to renovate instead of move due to elevated home prices, higher mortgage rates and moving costs. According to a recent Redfin survey, 43% of homeowners chose to renovate in the past year, while two-thirds of renovators did so as an alternative to buying. “Many Americans are choosing to stay put and make the home they already have work for them,” said Chen Zhao, Redfin’s head of economics research. “That could mean improving outdated spaces, adding space for a growing family or reconfiguring the existing space so…
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Housing 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 MoreHalf of U.S. homeowners are planning to renovate
According to a new study, more than half of U.S. homeowners found the time and financial means to renovate their homes in 2025. Approximately 50% of U.S. homeowners plan to renovate this year, with a growing share of younger homeowners creating a generational shift in renovation demographics. The percentage of millennials taking on renovation projects rose from 8% to 10% year over year. Gen Z now represents 0.5% of all renovating homeowners, compared to 0.2% in 2024. Baby boomers still account for more than half of all homeowners undertaking renovation…
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 MoreOutdoor living is a major motivator for renovations
A new survey of current homeowners indicates that outdoor living is a priority in their home renovations. In the study, 83% of homeowners noted that they want these spaces to function as extensions of the home with a lounge or sitting area. Accompanied by this area projects with outdoor kitchens, integrated outdoor lighting and other large projects. Interest in DIY methods are shrinking for these projects and remodelers are taking that increase in business. According to the survey, there is nearly a ten percent increase in hiring activity, from 65%…
Read MoreNew report finds job openings in construction increased
According to the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS), in April, openings for positions in construction increased for the second consecutive month. This aligns with overall economic growth, which saw 7.62 million open positions. In the construction section, employment openings jumped from 234,000 in March to 259,000 in April. Other research from the Associated General Contractors of America reported that year-over-year employment increased in 32 states from April 2025 to April 2026. “The construction job openings rate increased to 3% in April, up from the…
Read MoreNAHB urges Congress to advance housing supply reforms
On May 21, 2026, the National Association of Home Builders (NAHB) Chairman Bill Owens, a home builder and remodeler from Worthington, Ohio, testified before the House Small Business Committee on how small builders can help close the nation’s housing gap. “NAHB estimates the country is facing a structural shortage of about 1.2 million homes,” said Owens. “Small builders are doing all they can to increase housing supply, but they cannot overcome the shortage as long as rising costs and system delays continue to hold back progress.” In his testimony, he…
Read MoreConstruction employment increases in 32 states
Construction employment rose in 32 states from April 2025 to April 2026, according to an analysis of new federal data released by the Associated General Contractors of America on May 22, 2026. Texas added the most construction jobs, adding approximately 18,700 jobs, followed by North Carolina, Ohio, Louisiana, Illinois and Missouri. Louisiana had the largest percentage gain in the span of 12 months. “It’s encouraging to see construction employment increasing in many parts of the country,” said Ken Simonson, the association’s chief economist. In April 2026, Florida added the most…
Read MoreHomeowners choose remodeling their forever home over moving
Across the nation, more homeowners are embracing the “Forever Renovation,” a continuous cycle of upgrading, adapting, improving and reimagining their homes over time. Real estate expert Philip A. Raices discussed several trends that are driving this transformation in the renovation industry. The biggest reason for the driving change is economic; millions of homeowners have locked in mortgage rates between 2% and 4%. For many families, moving would mean substantially higher monthly payments and higher insurance costs. As a result, homeowners are increasingly choosing to improve their forever home rather 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…
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