Residential remodeling fully recovered

Home COVID-19 COVID-19-home Residential remodeling fully recovered

Washington, D.C.—Spending on residential remodeling will continue to grow at a healthy pace over the next two years, according to experts speakers at an online press conference hosted by National Association of Home Builder (NAHB) remodelers during the 2021 IBSx.

The residential remodeling market declined significantly at the onset of COVID-19 in March and April 2020 but has since more than fully recovered. NAHB predicted that remodeling spending for owner-occupied, single-family homes will increase 4% in 2021 and increase 2% in 2022. “The biggest factors prohibiting stronger growth are mainly the volatile material prices and labor shortages,” noted Paul Emrath, NAHB’s assistant vice president for surveys and housing policy research.

Professional remodelers from across the country agreed with the forecast, citing increased demand during COVID-19 and consumer confidence. For example, Vince Butler, a remodeler from Clifton, Va., said, “After the dip at the beginning of the pandemic, remodeler confidence bounced back, and it continues to remain at a high level as remodeling spending is expected to reach $285 billion in 2021. There is steady consumer demand as Americans are at home much more during the pandemic. This gives homeowners more time and a desire to invest in their homes.”

Tim Lansford, a remodeler from Arlington, Texas, added, “We’re seeing more requests for proposals because of the pandemic. Because people are using their time at home now to remodel, the demand and backlog for remodeling remains high.”

Must Read

Mohawk Group expands Living Local LVT line

Calhoun, Ga.— Mohawk Group has expanded its domestically manufactured 2.5mm LVT platform, Living Local. With four new 12 x 24 designs including stone, terrazzo...

Ecore launches Aurora rubber sheet

Lancaster, Pa.— Ecore, a manufacturer of ergonomic and acoustic performance surfaces, has launched its newest commercial surface, Aurora. The next-generation resilient rubber sheet product features...

Mapei rolls out gapping-control adhesive

Deerfield Beach, Fla.— Ultrabond ECO 399 adhesive from Mapei can control gapping in resilient flooring. The heavy-duty, pressure-sensitive, multi-flooring product is the latest adhesive...

Mohawk takes home two ‘Best of the Best’ awards

Calhoun, Ga.— Mohawk is celebrating two North Georgia "Best of the Best" wins. The company was voted a "Best of the Best" employer in...

Karndean to appear on HGTV’s ‘Rock the Block’

Export, Pa.— Karndean Designflooring will be featured on the upcoming season of HGTV’s “Rock the Block,” a competition style show in which top HGTV...

Interface launches Stargazing commercial LVT

Atlanta— Interface has introduced Stargazing, a LVT collection designed with the specific needs of school facilities in mind. The collection includes two patterns, Scorpio...
Some text some message..