Market Conditions
Market Conditions
Remodeling Spending To Tick Up Through Mid-2025
The Leading Indicator of Remodeling Activity report says things will trend up after a modest downturn
NAHB
NAHB: Remodelers Face Challenges and Opportunities
Remodelers face a uniquely strong market yet remain challenged by codes and costs
NAHB
NAHB Announces Action Plan for Housing Affordability
Six of the proposed 10 action items are important to residential remodelers
Market Conditions
Metros with the Highest and Lowest Remodel ROI
First-time homebuyers can find fixer-upper listings priced between 5 to 10% lower than move-in ready homes. The high return on investment of these projects shows that remodeling remains a strong option to navigate the current housing market
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NAHB/Wells Fargo: Housing affordability highest in 20 years
Nationwide housing affordability reached record levels in the last quarter of 2010, according to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index. According to the report, 73.9 percent of homes sold in the fourth quarter of last year were affordable to families earning the national median income of $64,400. This is the highest affordability level in the index’s 20-year history.
Rising energy costs fuel construction materials price increase
Prices for residential construction materials continue to rise as energy costs increase, according the latest Producer Price Index released by the Bureau of Labor Statistics. Residential building materials prices rose 4.3 percent between January 2010 and January 2011, outpacing prices for general materials.
Remodeling activity increases in 2010
Residential remodeling activity increased in 2010, showing gains for the 14th straight month, as many homeowners continue to choose remodeling over purchasing a new home.
Builder confidence holds steady for fourth month
Builder confidence remained the same for newly built, single-family homes for the fourth month in a row, according to the latest National Association of Home Builders (NAHB)/Well Fargo Housing Market Index numbers.
Obama administration releases proposal to phase out Fannie and Freddie
The Obama administration on Friday put forth three possible plans on reducing the federal government’s involvement in the mortgage industry and phasing out Fannie Mae and Freddie Mac, the Wall Street Journal reported.
Housing affordability returns to pre-housing boom levels
The ratio of home price to annual household income fell to pre-housing boom levels in 47 of the 74 markets that Moody’s Analytics measures, indicating the homes in those areas currently are highly affordable. Those 47 markets have either passed or surpassed the average ratio between 1989 and 2003, when economist believe the housing boom started.
Progress in 1099 battle, but no final action yet
The much-maligned 1099 reporting requirement set to take effect in 2012 is still on the books
Modified loan default rate drops
Although borrowers who modify their loans are likely to default again within a year, the redefault rate is falling, the Wall Street Journal reported.
NAHB girds for a busy spring on Capitol Hill
Professional Remodeler magazine sat down with NAHB's chief lobbyist Joe Stanton and his top regulatory aide Elizabeth Odina to discuss new legislative threats to an already embattled housing and remodeling industry and the forces his team is marshalling to keep the interests of remodelers front-and-center on Capitol Hill.
Six tax code changes to keep your eye on
The tax code changes every year as new laws are passed and new restrictions take effect. The rules on small businesses are especially volatile. Here are six changes and potential changes you need to know about for this year and beyond.