Remodeling a Key Element in the Nation’s Economy

Like new construction, remodeling of both owner-occupied homes and rental properties contributes billions of dollars to the nation’s economy each year as property owners update and improve residential properties.

Every $10 million in remodeling expenditures yields the following economic benefits:

• 111 jobs
• $8.3 million in wage and business income
• $3 million in taxes and revenue for state, local and federal governments

Residential remodeling is one of the industry’s bright spots. The average amount spent on remodeling projects per household nationwide is $1,907.

Nationally, NAHB is forecasting a continued increase in the demand for residential repairs and improvements this year.

Legislation Would Improve Lead Paint Rule

One of the biggest threats to the residential remodeling industry is the EPA's Lead Paint Rule.  Your HBA is working aggressively to address this threat.

NAHB has worked with members of Congress to introduce legislation that is pending in both chambers of Congress that would make much-needed improvements to the EPA’s Lead: Repair, Renovation and Painting rule.

The Lead Exposure Reduction Amendment Act of 2012 (House bill H.R. 5911and Senate bill S. 2148) would help home owners and remodelers to better comply with the costly work practices and record keeping requirements of the rule without compromising safety standards.

Your HBA is urging its members to contact their lawmakers and urge them to co-sponsor these two lead paint bills pending in the House and Senate.