Remove Home Improvement Remove Housing Market Remove Renovations
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Home Improvement Spending Surges

Appraisal Buzz

American homeowners poured $827 billion into home improvement projects during the two-year period ending in 2023, according to the latest U.S. Census Bureau American Housing Survey. Rising Costs and Project Trends From 2021 to 2023, the average cost of a home improvement project rose from $4,800 to $6,200.

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Younger generations are more likely to pursue home renovations this year

Housing Wire

As high home prices continue to impact the market, many homeowners are deciding to stay put in their homes. But most still have plans to purse home renovations and younger generations are leading this new focus on home improvement. But renovation plans remained top of mind for most of them.

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Real estate investors say they’ll expand portfolios, make home improvements in 2025

Housing Wire

real estate investors are planning to grow their portfolios and invest significantly in property improvements in 2025, according to a new survey from property management software provider RentRedi. Landlords in the Northeast are the most committed to renovations, with 60% planning to spend $5,000-plus per property. A majority of U.S.

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Most prospective buyers want turnkey homes, despite higher prices

Housing Wire

In a challenging and expensive housing market , some prospective homebuyers may compromise on certain standards and features to secure their purchase. This finding likely stems from an increase in renovation costs over the past three years, forcing some buyers to pursue costly financing sources to improve their homes.

Buyers 418
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Renovation loans get pandemic boost as homeowners want home offices

Housing Wire

The Federal Housing Administration’s 203(k) rehabilitation mortgage insurance program is designed for borrowers to renovate when they purchase or refinance. For over 40 years with Section 203(k) of the National Housing Act, FHA has been protecting lenders with fully-insured mortgage loans even as renovations are underway.

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Many baby boomers live in “time capsules” that need renovations to age in place

Housing Wire

Fifty-five percent of surveyed baby boomers plan to remain in their existing homes as they age, but less than a quarter of those surveyed have any plans to renovate their homes to more safely and easily accommodate natural changes that come with aging. The housing market is caught in a generational tug-of-war.

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Top 5 home improvement projects real estate agents should recommend to sellers

Housing Wire

We’ve all witnessed the housing market slowdown that has occurred over the last year. Across the country, homes are spending more days on the market as interest rates rise. When making pre-listing repairs or renovations, different projects can result in vastly different returns.