As homes age, more homeowners are looking to remodeling to spruce up their properties. Of the nation’s stock of 137 million units, nearly 80% are at least 20 years old, and 40% are at least 50 years old.Freddie Mac says its new mortgage product is to help home buyers finance or refinance fixer-uppers. Eligible buyers will be able to finance the purchase of their home and the cost of renovations into a single-close mortgage.“Research indicates
Builders constructed fewer single-family homes last month, but permits are on the rise, a signal that more new homes are eventually coming.Total housing starts, including for single-family and multifamily construction, dropped slightly by 0.9% in May compared to the month prior, the Commerce Department reported on Tuesday.But builders were hopeful for a turnaround from last month’s uptick in permits, a gauge of future construction. Single-famil
For Sale signs in front of places of worship are becoming more common as attendance at smaller churches dwindles. Some developers and home buyers are stepping in to transform the churches into their new home. A handful of former churches are being converted into single-family homes or apartments.In the U.S., church membership has been decreasing over the past two decades. About 50% of Americans belonged to a church, synagogue, or mosque in 2018,
Indoor air quality is one of the top five environmental risks to public health, researchers say. After all, most people spend 90% of their time indoors, whether in homes, office buildings, or other structures. Ventilation is the “new frontier for making houses healthy,” Carl Seville of SK Collaborative, a green building consulting and certification firm, told Forbes.com in a recent article.There’s reason for the added attention. R
PPG, a paint firm and color forecaster, released its early picks of inspiring hues for 2020. If the predictions are right, you’ll be seeing much more blue in home decor next year. PPG announced on Monday that Chinese porcelain is its 2020 color of the year.The shade is a blend of cobalt mixed with some muted navy tones intended to instill calmness and restful sleep, the paint firm says. Blues have been steadily gaining popularity over
The kitchen is often considered the centerpiece of a home, so it’s not surprising that it tops most homeowners’ renovation lists. Homeowners are spending more to outfit their kitchens, too. Kitchen remodel spending jumped 27% in the past year, reaching a median of $14,000 on upgrades, according to a newly released Houzz & Home survey of more than 140,000 homeowners.After the kitchen, the next biggest remodeling expenditures are for guest
The fastest-growing builders in the nation are those who’ve been catering to the lower range of the price spectrum. Their focus on affordability is allowing them to win greater market share and sales volumes, a new study says.Ever year, BUILDER compiles Builder 100 data to see which new-home builders are seeing the biggest sales volume and production.Century Communities was the fastest-growing public builder in unit volume, based on its rate of
Those wanting to spruce up a home may need to add more money to their budget. Builders and contractors are warning that new tariffs on Chinese goods will add $2.5 billion in added costs to the home remodeling industry, and those extra costs will be passed on to customers.Tariff costs on Chinese imports jumped from 10% to 25% on May 10, which builders say will increase the cost of about 450 goods used by the home building industry, such as counter
Inspired by reality TV shows on HGTV and other outlets, a new generation of home flippers has been in the market in recent years. These investors hope to make over properties and then make a tidy profit off the sale. But for many, flipping hasn't exactly been made-for-TV.This is one segment of the market where real estate agents should counsel extra caution.“Many newbie investors are encountering the
A remodeling labor shortage continues to impact housing projects by increasing prices and delaying timetables, a new survey from the National Association of Home Builders shows. Remodeling jobs that involve carpenters, framing crews, bricklayers, and electricians are seeing some of the largest shortages.“The labor shortage continues to be one of the top concerns for remodelers across the country,” says Tim Ellis, the NAHB’s Remodelers chair
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
