News
News
Remodeling Spending To Tick Up Through Mid-2025
The Leading Indicator of Remodeling Activity report says things will trend up after a modest downturn
Business
Curbio Joins NAR As New Member Benefits Partner
National Association of Realtors members receive access to the Curbio home improvement platform
NAHB
NAHB Announces Action Plan for Housing Affordability
Six of the proposed 10 action items are important to residential remodelers
Home Improvement
Re-Bath Expands its Reach with New Franchise
The company signs a deal with brothers who are first-time franchisees
Advertisement
Existing home sales continue upward trend in December
Existing home sales rose in December for the fifth time in the last six months, indicating a recovery as the housing market continues to stabilize. According to the National Association of Realtors, existing homes sales jumped 12.3 percent last month, reaching a seasonally adjusted rate of 5.28 million.
Housing starts drop but building permits on the rise
Housing starts declined in the last month of 2010, reaching their slowest pace since October 2009, new Commerce Department data show. On a positive note, building permit issuance rose 16.7 percent in December 2010, which might indicate that builders are upbeat about the upcoming spring selling season.
Union protestors shut down mortgage banking conference over Pulte
Union members shut down a Mortgage Bankers Association conference in Washington, D.C., yesterday in protest of PulteGroup Inc.’s use of $900 million in tax breaks meant to spur job creation
NAHB: Home builder confidence remains low
The National Association of Home Builders’ Housing Market Index remained steady this month at 16 for the third month in a row, indicating that home builders’ confidence is still low. Perceptions on current single-family home sales and sales expectations for the next six months remained the same as last month. Perceptions of prospective buyer traffic gained one point.
Survey: Affordability and increased living space top reasons to buy in 2010
A survey of homeowners who purchased a home last year found that their primary motivations were affordability and the desire for more living space. The survey by Weichert Realtors Inc. polled 1,261 buyers who bought a home between July 1 and Dec. 31. Twenty-eight percent said their main reason for purchasing a home was “favorable financing,” double the amount in 2008.
Single-family home sizes continue to shrink
The average size of single-family homes completed last year fell 3 percent, the National Association of Home Builders announced last week at the International Builders’ Show. The average size of homes completed in 2010 was 2,377 sf, down from a peak of 2,521 sf in 2007.
Chinese drywall makers resist compensating homeowners for tainted product
The U.S. Consumer Product Safety Commission has so far been unable to persuade Chinese makers of defective drywall to compensate U.S. homeowners, Insurance Journal reported. The drywall in question was imported to the U.S. after Hurricane Katrina as part of the effort to rebuild damaged homes. Approximately 4,000 homeowners have since filed complaints about the product.
NARI appeals for stricter lead rule enforcement
In a letter addressed to U.S. Environmental Protection Agency (EPA) Administrator Lisa P. Jackson, the National Association of the Remodeling Industry (NARI) requested stricter enforcement of the Lead Renovation, Repair and Painting (LRRP) Rule.
Homeowners ready to invest in remodeling, survey says
Many homeowners who put off remodeling and repairs last year due to the economy are now ready to make the investment, a new survey reported.
Vacation home sales on the rise
Despite the down housing market, vacation home sales are on the rise, the Wall Street Journal reported. Many vacation communities saw sales increases in 2010. Mercer Island, Wash., reported that sales tripled between 2009 and 2010, while Hilton Head Island, S.C., saw a 14 percent increase in sales last year. Palm Beach, Fla., also reported high sales, with a 40 percent increase in 2010, bringing the sales volume to 2007 levels.