At a panel hosted by the National Association of Home Builders (NAHB) during the International Builders’ Show (IBS), industry experts discussed the NAHB/Westlake Royal Remodeling Market Index (RMI). This quarterly survey administered by the NAHB to their members reported over 50 points for 24 consecutive quarters. Their data supports that confidence in the remodeling industry is stronger than their multi-family and single-family counterparts.
They predict that residential remodeling activity is expected to increase 3% in 2026 with an additional 2% in 2027.
“There are many factors contributing to the continued growth of the remodeling market, including the aging housing stock,” said NAHB Economist Eric Lynch. “The typical age of a home has increased from 31 years old in 2006 to 41 years old in 2023. And with the dramatic rise in home equity post-pandemic, more home owners are able to finance remodeling projects that align with their needs.”
Also on the IBS panel was Alan Hanbury president and CEO of Consulting by House of Hanbury Builders Inc. He discussed best practices for remodelers to grow and maintain their practice throughout any market condition.  “It is extremely important for remodelers to establish benchmarks and target attainable future goals if they want to continue to succeed and grow,” said Hanbury. “It is even better when those objectives are based on data from your fellow peers.”
