The National Association of Home Builders' Remodeling Market Index posted a reading of 54 in the first quarter of 2016, dipping four points below the previous quarter but remaining in positive territory.
An Remodeling Market Index above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than those who report it is lower. The overall Remodeling Market Index averages ratings of current remodeling activity with indicators of future remodeling activity.
“Remodelers were solidly booked for jobs in the first quarter of 2016 but calls and appointments for work slowed down in comparison to the end of 2015,” said 2016 National Association of Home Builders Remodelers Chair Tim Shigley, CAPS, CGP, GMB, GMR, a remodeler from Wichita, Kansas. “Volatility in the financial markets during the first quarter may have impacted consumers’ readiness to commit to projects.”
The Remodeling Market Index’s current market conditions index stands at 55, down a point from the previous quarter. Among its components, major additions and alterations continued gains from the previous quarter, rising to 55 from 54. The smaller remodeling projects component decreased two points to 54, and the home maintenance and repair component of the Remodeling Market Index decreased two points to 56.
At 53, the Remodeling Market Index’s future market conditions index decreased six points: Calls for bids decreased to 51 from 58, the amount of work committed fell to 52 from 57 and appointments for proposals dropped to 52 from 60. Meanwhile, the backlog of remodeling jobs decreased only three points to 58 from the previous quarter’s reading — and high-water mark — of 61.
“Minor declines in the small additions and maintenance categories coupled with a slight uptick in major additions resulted in a flat outcome for current market conditions,” said National Association of Home Builders Chief Economist Robert Dietz. “While the future market conditions of the index dipped slightly, we still anticipate modest growth in the remodeling industry over the course of 2016.”
For data tables on the Remodeling Market Index, visit www.nahb.org/rmi. For more information about remodeling, visit www.nahb.org/remodel.
The Home Builders Association of Greenville are your neighbors and community leaders providing education and support for building industry professionals. We create jobs, encourage homeownership, and promote responsible growth throughout the upstate of South Carolina.
Showing posts with label Remodeling. Show all posts
Showing posts with label Remodeling. Show all posts
Thursday, April 21, 2016
Thursday, March 24, 2016
Judges Needed for Columbia Remodeling Awards
Please contact Bin Wilcenski at (803) 256-6238 or bin@columbiabuilders.com if you are willing and able to help.
Friday, October 25, 2013
Remodeling Market Index Climbs For Second Quarter in a Row
The Remodeling Market Index (RMI) continued to climb at a modest pace in the third quarter of 2013 rising two points to 57, the highest reading since the first quarter of 2004, according to the National Association of Home Builders (NAHB).
An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity. The RMI’s current market conditions index rose from 54 in the previous quarter to 58, the highest reading since the creation of the RMI in 2001, driven partly by rising existing home sales.
“The growth in home equity and home sales prompted home owners to remodel as they prepare to move or undertake upgrades that they put off during tough times,” said NAHB Remodelers Chairman Bill Shaw, GMR, GMB, CGP, a remodeler from Houston. “NAHB Remodelers looks forward to continuing our tradition of professional service and craftsmanship as the housing recovery makes progress.”
All three major components of the RMI’s current market conditions index increased in the third quarter. Major additions and alterations increased from 51 to 55, minor additions and repairs from 55 to 58 and maintenance and repair from 57 to 59. The future market indicators component of the RMI remained even with the previous quarter reading of 56.
Regionally, the RMI has registered two consecutive quarters of gains in the Northeast, Midwest and West. In the South, the RMI edged down slightly in the third quarter after a five point gain the previous quarter. All four regions were above 50 and higher in the third quarter than in the first quarter of 2013.
“In addition to existing home sales, which support remodeling activity as owners fix up their homes before and after a move, remodeling has benefitted from rising home values,” said NAHB Chief Economist David Crowe. “This boosts home equity that owners can tap to finance remodeling projects. We expect existing home sales and house prices to increase, but at a slower rate over the next year, so the demand for remodeling services should also increase, but more gradually over that period.”
For more information about remodeling, visit www.nahb.org/remodel.
An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity. The RMI’s current market conditions index rose from 54 in the previous quarter to 58, the highest reading since the creation of the RMI in 2001, driven partly by rising existing home sales.
“The growth in home equity and home sales prompted home owners to remodel as they prepare to move or undertake upgrades that they put off during tough times,” said NAHB Remodelers Chairman Bill Shaw, GMR, GMB, CGP, a remodeler from Houston. “NAHB Remodelers looks forward to continuing our tradition of professional service and craftsmanship as the housing recovery makes progress.”
All three major components of the RMI’s current market conditions index increased in the third quarter. Major additions and alterations increased from 51 to 55, minor additions and repairs from 55 to 58 and maintenance and repair from 57 to 59. The future market indicators component of the RMI remained even with the previous quarter reading of 56.
Regionally, the RMI has registered two consecutive quarters of gains in the Northeast, Midwest and West. In the South, the RMI edged down slightly in the third quarter after a five point gain the previous quarter. All four regions were above 50 and higher in the third quarter than in the first quarter of 2013.
“In addition to existing home sales, which support remodeling activity as owners fix up their homes before and after a move, remodeling has benefitted from rising home values,” said NAHB Chief Economist David Crowe. “This boosts home equity that owners can tap to finance remodeling projects. We expect existing home sales and house prices to increase, but at a slower rate over the next year, so the demand for remodeling services should also increase, but more gradually over that period.”
For more information about remodeling, visit www.nahb.org/remodel.
Thursday, August 29, 2013
Upcoming NAHB Webinars: Of Profits and Non-profits
Doing Well by Doing Good: Building Strategic Partnerships Through Community Action
Wednesday, Sept. 11, 2:00-3:00 PM ET
Presented by NAHB National Sales and Marketing Council
Giving back solidifies your reputation in the community, but did you know that your charitable efforts can also be used to form strategic partnerships, gain positive public relations and increase your brand awareness? Our experts say yes and will show you how in this in this how-to webinar. Register for this webinar.
Builders Need Their Tools Back: Fixing the 2015 Codes
Thursday, Sept. 12, 2:00-3:00 PM ET
Presented by NAHB Construction, Codes and Standards
Construction Codes and Standards staff will discuss important changes proposed for the 2015 editions of the International Code Council family of model building codes, including significant energy code changes that will fix the mistakes made during the 2012 code cycle. Register for this webinar.
Risk Management Fundamentals for Home Builders and Contractors
Wednesday, Sept. 18, 2:00-3:00 PM ET
Presented by NAHB Business Management
Risk management is a critical part to every company and encompasses a wide variety of business practices. It's more than looking at safety issues; it includes insurance, contracts, and regulatory compliance. This webinar is a discussion about the basics of risk management. Register for this webinar.
Planning for Profits in Your Remodeling Business
Wednesday, Sept. 25, 2:00-3:00 PM ET
Presented by NAHB Remodelers
Not making as much as you'd like? In this webinar, remodelers will learn how to create a successful business plan and annual operating budget for their business. Participants will get help troubleshooting common roadblocks on the road to profitability. Register for this webinar.
Keep Bedbugs from Infesting Your Company's Bottom Line
Thursday, Sept. 26, 2:00-3:00 PM ET
Presented by NAHB LIHTC and Multifamily
In this special Thursday webinar, an NAHB attorney will outline the legal obligations of owners and managers who find themselves in such situations, or who want to proactively avoid liability issues. Since prevention is the first line of defense, an experience entomologist will discuss strategies for keeping your buildings pest-free, and will describe the various approaches to recognizing and solving the problem once it appears. Register for this webinar.
Learn more about Webinar Wednesdays.
Wednesday, July 10, 2013
CDC moves the goal post on lead paint
The Centers for Disease Control and Prevention (CDC) recently changed its standard on which it bases its efforts for reducing childhood lead exposure.
Previously, the CDC used 10 micrograms of lead per deciliter of blood as its standard for a "level of concern" for lead poisoning, The agency replaced that standard with a focus on the 2.5 percent of the population most exposed to lead. This change sets up a scenario in which industries like Remodeling will suffer through ever more expensive measures to mitigate a continuously decreasing risk of exposure.
Craig Webb, Editor-In-Chief of Remodeling, presents an effective argument against the CDC's change in his "First Word" in this month's Remodeling. Below is Webb's column, used with permission.
Add It Up
On the lead-paint rule, whose needs matter more?
Odd as it may seem, the debate over the lead-paint rule reminds me of the movie Saving Private Ryan. If you’ve seen the movie, no doubt you remember how director Steven Spielberg first shows in stomach-turning detail the carnage U.S. troops suffered on Normandy’s D-Day beaches and then juxtaposes that with a platoon’s search to find and safely bring home just one soldier.
Saving Private Ryan ostensibly is about the sacrifice by the many to make possible our concern for the one. The lead-paint fight echoes that notion, because at its heart lies this question: Is it worth spending millions of dollars and remodelers’ hours to protect a relatively small number of kids and pregnant women from lead exposure?
A recent letter to the editor illustrates this. In it, remodeler Mike Patterson of Gaithersburg, Md., takes issue with June’s First Word column in which I noted that the Centers for Disease Control and Prevention (CDC) has decided to stop using 10 micrograms of lead in a deciliter of blood as its standard for a “level of concern” and instead will focus on the most exposed 2.5% of the population, no matter how low the number may be. I likened the CDC’s decision to what manufacturers do when they implement error-reduction programs to improve their assembly lines.
The CDC says it changed its tack because it can’t say how small an amount of lead in blood is safe. The problem, Patterson correctly points out, is that the CDC’s action removes the possibility that we’ll ever be able to declare victory on this issue, while simultaneously forcing us to commit ever-greater resources for an ever-smaller gain.
“The idea that nothing is ever good enough is a pervasive one, but it’s a pernicious and expensive one as well,” Patterson writes. “Pernicious in that it never allows one to feel that something worthy has been accomplished, and expensive, as it forces us all to shave our profit margins ever thinner, in the pursuit of ... what? A goal? How is that possible, when the goal posts are moved every time we approach?”
America has done amazing work combating lead exposure. In the late 1970s, studies found that an estimated 88% of children aged 1 to 5 had 10 micrograms of lead per deciliter of blood. When similar tests were conducted between 2007 and 2010, just 0.8% of the kids had the same level.
Note that this improvement came before the lead-paint rule took effect, and at a price (largely from getting lead out of gasoline) that our society could afford. Tens of millions of kids are out of danger, and now a relatively few remain.
I never liked the premise of Saving Private Ryan, and I don’t like what the CDC did here. The rule’s cost doesn’t justify the benefit.
Craig Webb is editor-in-chief of REMODELING.
Previously, the CDC used 10 micrograms of lead per deciliter of blood as its standard for a "level of concern" for lead poisoning, The agency replaced that standard with a focus on the 2.5 percent of the population most exposed to lead. This change sets up a scenario in which industries like Remodeling will suffer through ever more expensive measures to mitigate a continuously decreasing risk of exposure.
Craig Webb, Editor-In-Chief of Remodeling, presents an effective argument against the CDC's change in his "First Word" in this month's Remodeling. Below is Webb's column, used with permission.
Add It Up
On the lead-paint rule, whose needs matter more?
Odd as it may seem, the debate over the lead-paint rule reminds me of the movie Saving Private Ryan. If you’ve seen the movie, no doubt you remember how director Steven Spielberg first shows in stomach-turning detail the carnage U.S. troops suffered on Normandy’s D-Day beaches and then juxtaposes that with a platoon’s search to find and safely bring home just one soldier.
Saving Private Ryan ostensibly is about the sacrifice by the many to make possible our concern for the one. The lead-paint fight echoes that notion, because at its heart lies this question: Is it worth spending millions of dollars and remodelers’ hours to protect a relatively small number of kids and pregnant women from lead exposure?
A recent letter to the editor illustrates this. In it, remodeler Mike Patterson of Gaithersburg, Md., takes issue with June’s First Word column in which I noted that the Centers for Disease Control and Prevention (CDC) has decided to stop using 10 micrograms of lead in a deciliter of blood as its standard for a “level of concern” and instead will focus on the most exposed 2.5% of the population, no matter how low the number may be. I likened the CDC’s decision to what manufacturers do when they implement error-reduction programs to improve their assembly lines.
The CDC says it changed its tack because it can’t say how small an amount of lead in blood is safe. The problem, Patterson correctly points out, is that the CDC’s action removes the possibility that we’ll ever be able to declare victory on this issue, while simultaneously forcing us to commit ever-greater resources for an ever-smaller gain.
“The idea that nothing is ever good enough is a pervasive one, but it’s a pernicious and expensive one as well,” Patterson writes. “Pernicious in that it never allows one to feel that something worthy has been accomplished, and expensive, as it forces us all to shave our profit margins ever thinner, in the pursuit of ... what? A goal? How is that possible, when the goal posts are moved every time we approach?”
America has done amazing work combating lead exposure. In the late 1970s, studies found that an estimated 88% of children aged 1 to 5 had 10 micrograms of lead per deciliter of blood. When similar tests were conducted between 2007 and 2010, just 0.8% of the kids had the same level.
Note that this improvement came before the lead-paint rule took effect, and at a price (largely from getting lead out of gasoline) that our society could afford. Tens of millions of kids are out of danger, and now a relatively few remain.
I never liked the premise of Saving Private Ryan, and I don’t like what the CDC did here. The rule’s cost doesn’t justify the benefit.
Craig Webb is editor-in-chief of REMODELING.
Tuesday, December 11, 2012
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:
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.
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
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.
Friday, May 11, 2012
NAHB: Kitchens and bathrooms remain top remodeling jobs
A new survey released by the National Association of Home Builders (NAHB) shows common remodeling projects have increased, compared to a similar survey from 2010. The survey, released today in conjunction with National Home Remodeling Month, describes the changes the remodeling market has undergone in recent years.
Remodelers report that kitchen and bathroom projects remain the most popular remodeling jobs with home owners increasingly upgrading both rooms and making major repairs as they decide to stay in their current homes longer. Nearly 50 percent of remodelers report seeing an increase in the number of home owners who undertake remodels to avoid moving compared to the 2010 findings.
Both kitchen and bathroom remodeling projects were up 17 percent from two years ago, with bathroom remodels cited as a common job by 78 percent of remodelers and kitchen remodels at 69 percent. Since 2009, bathrooms and kitchens have switched places in popularity, with bathroom remodels moving into the top spot as the most common type of remodeling project.
“As the priorities of home owners shift, remodelers have to adjust to the needs of their clients,” said NAHB Remodelers Chairman George “Geep” Moore Jr., GMB, CAPS, GMR and owner/president of Moore-Built Construction & Restoration Inc. in Elm Grove, La. “And while the motivation behind a home owner’s decision to remodel may have changed, their desire for quality, professional results have not. Professional remodelers remain committed to the highest industry standards.”
Repairs and replacements of old components and the desire for upgraded amenities were cited as the top reasons for customers to hire a remodeler. More than 60 percent of remodelers reported increased demand for repairs and replacements of old components in the past two years, while more than half of remodelers said that the desire for upgraded amenities increased. In contrast, more than 20 percent of remodelers said there was a decrease in customers remodeling to increase home values as an investment.
In addition to kitchens and baths, other popular remodeling categories included window/door replacements (44 percent), whole house remodels (35 percent), room additions (33 percent) and handyman services (31 percent).
“Home owners are repurposing spaces and making more efficient use of their home’s square footage,” Moore said. “Whether it be young families or couples aging in their homes, people want to let their house adapt with their needs as they change over time.”
For more information about remodeling, visit www.nahb.org/remodel. For complete survey results, visit www.nahb.org/rmi.
Remodelers report that kitchen and bathroom projects remain the most popular remodeling jobs with home owners increasingly upgrading both rooms and making major repairs as they decide to stay in their current homes longer. Nearly 50 percent of remodelers report seeing an increase in the number of home owners who undertake remodels to avoid moving compared to the 2010 findings.
Both kitchen and bathroom remodeling projects were up 17 percent from two years ago, with bathroom remodels cited as a common job by 78 percent of remodelers and kitchen remodels at 69 percent. Since 2009, bathrooms and kitchens have switched places in popularity, with bathroom remodels moving into the top spot as the most common type of remodeling project.
“As the priorities of home owners shift, remodelers have to adjust to the needs of their clients,” said NAHB Remodelers Chairman George “Geep” Moore Jr., GMB, CAPS, GMR and owner/president of Moore-Built Construction & Restoration Inc. in Elm Grove, La. “And while the motivation behind a home owner’s decision to remodel may have changed, their desire for quality, professional results have not. Professional remodelers remain committed to the highest industry standards.”
Repairs and replacements of old components and the desire for upgraded amenities were cited as the top reasons for customers to hire a remodeler. More than 60 percent of remodelers reported increased demand for repairs and replacements of old components in the past two years, while more than half of remodelers said that the desire for upgraded amenities increased. In contrast, more than 20 percent of remodelers said there was a decrease in customers remodeling to increase home values as an investment.
In addition to kitchens and baths, other popular remodeling categories included window/door replacements (44 percent), whole house remodels (35 percent), room additions (33 percent) and handyman services (31 percent).
“Home owners are repurposing spaces and making more efficient use of their home’s square footage,” Moore said. “Whether it be young families or couples aging in their homes, people want to let their house adapt with their needs as they change over time.”
For more information about remodeling, visit www.nahb.org/remodel. For complete survey results, visit www.nahb.org/rmi.
Tuesday, March 13, 2012
Why you should behave in public
by Michael Dey, Executive Vice President
Home Builders Association of Greenville
Do you wear a shirt with your company's name and logo on it? Does your vehicle have your company listed on the door?
Just last week I was driving on the freeway and another driver aggressively passed me and changed lanes in front of me. He was in a hurry I am sure, but what got my attention was the magnetic sign on the rear of his pick up truck. Right there in front of me was the name of his company, phone number, and website address.
I called him. Not to complain, but to give him this advice: be careful what you do in public. After all, what do you think is the likelihood that I will do business with a person who causes me to have to take evasive action to avoid an accident on the freeway? If you guessed not likely, you guessed correctly. And that is the same reaction every other person in public will have when you misbehave in public, and the name of your company is prominently displayed on your shirt, or your vehicle.
If found this article in Remodeling this morning that reinforces this advice. It is a short article by Kathy Shertzer that offers the same advice: behave in public.
Home Builders Association of Greenville
Do you wear a shirt with your company's name and logo on it? Does your vehicle have your company listed on the door?
Just last week I was driving on the freeway and another driver aggressively passed me and changed lanes in front of me. He was in a hurry I am sure, but what got my attention was the magnetic sign on the rear of his pick up truck. Right there in front of me was the name of his company, phone number, and website address.
I called him. Not to complain, but to give him this advice: be careful what you do in public. After all, what do you think is the likelihood that I will do business with a person who causes me to have to take evasive action to avoid an accident on the freeway? If you guessed not likely, you guessed correctly. And that is the same reaction every other person in public will have when you misbehave in public, and the name of your company is prominently displayed on your shirt, or your vehicle.
If found this article in Remodeling this morning that reinforces this advice. It is a short article by Kathy Shertzer that offers the same advice: behave in public.
Monday, January 30, 2012
NAHB: Remodeling Market Index Rises to Five-Year High
Remodeling sentiment rose to the highest level in five years, according to the National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) for the fourth quarter of 2011. Released today, the RMI increased to 46.6 in the fourth quarter from 41.7 in the third quarter.
In the fourth quarter, the RMI component measuring current market conditions rose to 48.4 from 43.0 in the previous quarter. The RMI component measuring future indicators of remodeling business was also positive, increasing to 44.8 from 40.4 in the previous quarter.
An RMI below 50 indicates that more remodelers report market activity is lower (compared to the prior quarter) than report it is higher. The overall RMI averages ratings of current remodeling activity with indicators of future activity.
“As more consumers remain in their homes rather than move in this economy, remodelers benefited from a gradual increase in home improvement activity, taking us to a five-year high,” said NAHB Remodelers Chairman Bob Peterson, CGR, CAPS, CGP, a remodeler from Ft. Collins, Colo. “2011 ended on a strong note for the remodeling industry.”
Current market conditions improved significantly in all four regions over the third quarter of 2011. The RMI reported higher market activity in two important categories: major additions 52.3 (from 45.2) and minor additions 50.1 (from 45.7).
Future market indicators in each region also experienced gains from the previous quarter. Two of the indices reported a level over 50: calls for bids at 50.7 (from 45.4) and appointments for proposals at 50.1 (from 43.3), while work committed for the next three months only rose to 31.5 (from 29.9).
“With several key components above 50, the latest RMI provides reason for guarded optimism going forward,” said NAHB Chief Economist David Crowe. “The residential remodeling market has been improving gradually, mirroring the trend in other segments of the housing market. Stringent lending requirements and economic uncertainty continue to be a drag on demand, but we expect a modest growth in remodeling activity to continue throughout 2012.”
In the fourth quarter, the RMI component measuring current market conditions rose to 48.4 from 43.0 in the previous quarter. The RMI component measuring future indicators of remodeling business was also positive, increasing to 44.8 from 40.4 in the previous quarter.
An RMI below 50 indicates that more remodelers report market activity is lower (compared to the prior quarter) than report it is higher. The overall RMI averages ratings of current remodeling activity with indicators of future activity.
“As more consumers remain in their homes rather than move in this economy, remodelers benefited from a gradual increase in home improvement activity, taking us to a five-year high,” said NAHB Remodelers Chairman Bob Peterson, CGR, CAPS, CGP, a remodeler from Ft. Collins, Colo. “2011 ended on a strong note for the remodeling industry.”
Current market conditions improved significantly in all four regions over the third quarter of 2011. The RMI reported higher market activity in two important categories: major additions 52.3 (from 45.2) and minor additions 50.1 (from 45.7).
Future market indicators in each region also experienced gains from the previous quarter. Two of the indices reported a level over 50: calls for bids at 50.7 (from 45.4) and appointments for proposals at 50.1 (from 43.3), while work committed for the next three months only rose to 31.5 (from 29.9).
“With several key components above 50, the latest RMI provides reason for guarded optimism going forward,” said NAHB Chief Economist David Crowe. “The residential remodeling market has been improving gradually, mirroring the trend in other segments of the housing market. Stringent lending requirements and economic uncertainty continue to be a drag on demand, but we expect a modest growth in remodeling activity to continue throughout 2012.”
Thursday, November 17, 2011
NAHB appeals elements of Lead Paint Rule to U.S. Court of Appeals
Your National Association of Home Builders appealed the removal of the opt out provision of the Lead Paint Rule to the U.S. Court of Appeals for the District of Columbia. The hearing took place November 1.
A part of the argument was that the EPA exempted the largest part of home improvements from the Lead Paint Rule: the Do-It-Yourself "industry." Following the hearing, NAHB reported that relief from the Lead Paint Rule "may have to wait for a new Administration." Read why at Nations Building News by clicking here.
A part of the argument was that the EPA exempted the largest part of home improvements from the Lead Paint Rule: the Do-It-Yourself "industry." Following the hearing, NAHB reported that relief from the Lead Paint Rule "may have to wait for a new Administration." Read why at Nations Building News by clicking here.
Monday, August 1, 2011
NAHB: Remodeling Activity Slows Under Economic Uncertainty
he remodeling market slipped under pressure from a sluggish economy according to the National Association of Home Builders' (NAHB) Remodeling Market Index (RMI), which dipped during the second quarter to 43.9 from the first quarter result of 46.5. An RMI below 50 indicates that more remodelers report market activity is lower compared to the prior quarter than report it is higher.
The overall RMI combines ratings of current remodeling activity with indicators of future activity, like calls for bids. Current market conditions for the second quarter of 2011 fell to 44.8 from 46.1 in the first quarter. Future market indications dropped to 43.0 from 46.8 in the previous quarter.
"Remodelers have experienced the same hiccup that has rippled through the U.S. economy," said NAHB Remodelers Chairman Bob Peterson, CGR, CAPS, CGP, a remodeler from Ft. Collins, Colo. "After picking up the pace early in the year, the calls from customers dropped off and remodeling slowed down."
Regionally, current market conditions shrank in two areas: the Midwest to 44.4 (from 47.1 in the first quarter) and the South to 42.9 (from 46.1). The West at 48.2 (from 46.1) and Northeast at 48.1 (from 46.1) both climbed modestly.
Two indicators of current market conditions dropped: major additions to 46.2 (from 50.3 in the first quarter) and maintenance and repair to 38.4 (from 39.5). A third indicator, minor additions, remained essentially flat at 48.5 (from 48.0). Future market indicators also descended: calls for bids to 49.8 (from 53.1), backlog of remodeling jobs to 45.7 (from 49.7), and appointments for proposals to 44.2 (from 52.4). The amount of work committed for the next three months stayed level at 32.3 (from 32.1).
"While the RMI indicates that the home remodeling market softened somewhat in the second quarter, this is still the second highest RMI we've been able to report since the third quarter of 2007," said NAHB Chief Economist David Crowe. "There are several barriers blocking the way to a stronger recovery. Home owners who may want to remodel still face stringent lending requirements, and uncertainty about the economy is making them hesitant to undertake major improvements."
Residential Remodeling Index rises to highest level
The BuildFax Residential Remodeling Index was 124.3, up 22 percent from 109.7 in April and the highest level in the history of the index.
Friday, June 3, 2011
Home Improvements Drive Rise in Residential Construction Spending in April
A marked increase on home improvement expenditure provided a notable rise in private residential construction spending in March, but spending on single-family and multifamily housing construction continued to decline. The Construction Spending report from the Bureau of Census indicated a 3.1% increase in private residential construction spending to $232.1 billion from a downwardly revised $225.07 billion March (March private residential construction spending was previously reported as $229.1 billion).
To read the rest of the article at NAHB's Eye on Housing, click here.
To read the rest of the article at NAHB's Eye on Housing, click here.
Thursday, April 28, 2011
Signs of Improvement for Remodeling are Just in Time for Remodeling Month
May is Remodeling Month. Did you know that NAHB and other sources are predicting growth in home remodeling expenditures in 2011 and 2012?
According to NAHB, Americans spent $116 billion on improvements to owner-occupied homes in 2010. In addition, NAHB is forecasting that number to increase to $131 billion by 2012 as the housing market recovers from the recession.
Locally, attendee research from our own Southern Home & Garden Show revealed that 17.7 percent of the Spring home show audience has plans for a major remodel within the next 12 months and another 40.2 percent are planning minor home improvements over the next year.
According to NAHB, Americans spent $116 billion on improvements to owner-occupied homes in 2010. In addition, NAHB is forecasting that number to increase to $131 billion by 2012 as the housing market recovers from the recession.
Locally, attendee research from our own Southern Home & Garden Show revealed that 17.7 percent of the Spring home show audience has plans for a major remodel within the next 12 months and another 40.2 percent are planning minor home improvements over the next year.
Wednesday, April 20, 2011
Learn How Green Building Offers Growth Market For Remodelers
On April 28 HBA Remodelers can learn more about "Selling to the Green Client" at the Remodelers Forum at the HBA of Greenville office, sponsored by Advanced Renovations. The speaker is Kathy Vass of Vass Markets Inc.
The U.S. home remodeling industry is poised for growth in 2011, with NAHB predicting as much as a 20 percent increase in spending for home improvement projects. Studies show that in the next five years, the focus of remodeling spending will shift from upper-end discretionary projects to replacements and systems upgrades. With energy costs on the rise and consumers becoming increasingly aware of the need to conserve resources, green remodeling is providing remodeling business opportunities ranging from insulation upgrades to whole-house renovation projects.
Most of the nation’s 125 million homes were built before today’s high efficiency materials, appliances and construction techniques were incorporated into new homes. As homeowners look toward remodeling, they are considering and asking for products such as low-e windows, Energy Star® rated appliances, upgraded insulation and other green products.
Click here to register for the HBA of Greenville Remodelers Forum.
- What: HBA Remodelers Forum
- Topic: Selling to the Green Client
- When: Thursday, April 28, 8:30 a.m.
- Where: HBA of Greenville Office
- Speaker: Kathy Vass, Vass Markets
- Sponsor: Advanced Renovations
The U.S. home remodeling industry is poised for growth in 2011, with NAHB predicting as much as a 20 percent increase in spending for home improvement projects. Studies show that in the next five years, the focus of remodeling spending will shift from upper-end discretionary projects to replacements and systems upgrades. With energy costs on the rise and consumers becoming increasingly aware of the need to conserve resources, green remodeling is providing remodeling business opportunities ranging from insulation upgrades to whole-house renovation projects.
Most of the nation’s 125 million homes were built before today’s high efficiency materials, appliances and construction techniques were incorporated into new homes. As homeowners look toward remodeling, they are considering and asking for products such as low-e windows, Energy Star® rated appliances, upgraded insulation and other green products.
Click here to register for the HBA of Greenville Remodelers Forum.
Wednesday, March 16, 2011
Greenville in the top 100 markets for remodeling
Greenville South Carolina is ranked 82 in the Top 100 Markets list for remodeling, according to Remodeling magazine. The Top 100 Markets list is based on the Residential Remodeling Index, a metric developed by Hanley Wood Market Intelligence. The index measures the overall level of remodeling activity in 366 metropolitan statistical areas nationwide.
Also making the top 100 are Charlotte (8), Columbia (39), Atlanta (40), Augusta (62), and Charleston (76).
To read the Top 100 Markets article in Remodeling, click here.
Also making the top 100 are Charlotte (8), Columbia (39), Atlanta (40), Augusta (62), and Charleston (76).
To read the Top 100 Markets article in Remodeling, click here.
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