Activity, Confidence Reported Up Among Remodeling Firms
PALO ALTO, CA — Residential construction professionals experienced their busiest quarter since at least 2015 in the first three months of 2021, with confidence among remodeling construction and design firms running high into the third quarter, according to Houzz Inc.
The Palo Alto, CA-based online platform for home remodeling and design, reported positive results for its “Q3 2021 Houzz Renovation Barometer,” a quarterly gauge of residential renovation market expectations, project backlogs and recent activity among businesses in the U.S. construction, architectural and design services sectors.
“The residential construction and design industry has continued to thrive under strong demand,” said Marine Sargsyan, Houzz senior economist. “In fact, our Expected Business Activity indicators are at some of the highest levels we’ve seen across both sectors since we began tracking the Barometer.”
However, the heightened activity is not without its challenges, according to Houzz, which reported that supply chain delays, extreme weather patterns, rising product and material costs and labor shortages “continue to create major headwinds for the industry.” Specifically, more than nine in ten construction businesses report labor shortages, including carpenters, laborers, framers, cabinet specialists and plumbers, Sargsyan said.
More than three quarters of businesses in both the construction and architectural and design services sectors report that product and material shortages and costs impacted their businesses in the second quarter of 2021, while more than half of firms in both sectors report labor shortages and costs impacted their businesses, she added.
In other findings:
n More than nine in 10 businesses across all business sectors reported increases in costs for lumber, copper, steel and aluminum in Q2, although about half of surveyed businesses do not believe that costs will continue to increase in Q3. Additional materials that construction pros anticipate rising in cost include plastic, concrete, paint, foam and drywall. Interior designers anticipate increased third-quarter prices for appliances, furniture and cabinetry.
n More than nine in 10 construction businesses (92%) report moderate to severe skilled labor shortages in Q3, with carpenters, laborers, framers, cabinet specialists and plumbers in particularly short supply. Forty percent of pros report shortages in cabinet specialists, up from 21% in 2019. Shortages for plumbers, painters, framers, concrete specialists and flooring specialists, saw a nine-percentage-point or more increase from 2019, as well, Houzz said.
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NAHB Touts White House Meeting on Supply Chain Issues
WASHINGTON, DC — The National Association of Home Builders is “thankful” that White House officials have heeded NAHB requests to meet regarding home building material supply chain issues that continue to impact both new construction and remodeling.
NAHB officials expressed their gratitude this week after participating in a virtual meeting hosted by the White House regarding potential solutions to production and supply chain bottlenecks that have resulted in soaring material prices. The meeting was “the culmination of a year-long effort to educate the public and policymakers about how rising lumber and building material prices are harming home builders, home buyers and the economic recovery,” according to the NAHB.
“NAHB is thankful that the White House heeded our concerns to hold this urgent and timely building material supply chain meeting,” said Chuck Fowke, chairman of the Washington, DC-based NAHB.
“For the past year, rising building material prices and supply shortages, particularly for framing lumber, have hurt home builders, home buyers and the economy by adding tens of thousands of dollars to the price of a new single-family home,” Fowke said, adding that the NAHB “stressed that it is imperative that lumber mill producers boost production in order to meet rising demand.”
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Sustainable Living Seen Reshaping Housing Market
INDIANAPOLIS, IN — A trio of emerging trends in neighborhood design and sustainable living practices should continue to shape the market for new housing and residential remodeling as the “mindset of consumers continues to shift in a dynamic social climate,” according to a new report from the Home Improvement Research Institute (HIRI).
According to HIRI’s recently issued Future of Housing Trend Report, new and remodeled homes will likely be shaped by a growing homeowner passion regarding issues such as climate change, sustainability and minimalism, resulting “in an increased emergence of eco-friendly materials and 3D-printed technology to designs focused on cultural inspiration and reversible architecture.”
Among the key trends identified by HIRI researchers are the following:
n “Hyper-local neighborhoods”: Architects, developers and local governments are proposing neighborhoods centered on community building and local businesses. These spaces are intended to be car-free, with all necessities reachable via a short walk or bicycle ride.
n Flight from the cities: “As urban centers expand in size and population, consumers are recognizing that their quality of life is suffering — whether that be due to alienation, affordability issues, lengthy commutes or pollution,” HIRI said. As a result, many are moving away from city centers and turning to community-based neighborhoods, which provide a sense of belonging while also satisfying the need for convenience and cleaner air.
n Sustainable Housing: With sustainability as a top priority, architects and designers are embracing different eco-friendly concepts, among them “reversible design” (the architecture of structures that can be easily deconstructed, that can be reused or with parts that can be removed and added easily) and 3D-printed housing (homes that offer sustainable and protective construction that avoids structural issues in the case of extreme weather).
“Contemporary consumers are wary of the impending consequences of climate change, and a large number are becoming increasingly aware that simply shifting their lifestyle and practicing ecological mindfulness are likely not enough,” HIRI said. “As a result, many are demanding that brands and creators take the environment into consideration.
n Simplified Living: Building off of the desire for more sustainable living, the emergence of simple, more minimalist design emphasizes homeowners’ functions and needs.
“Contemporary consumers in fast-paced urban centers are looking to balance the demands of their daily lifestyle with a comfortable home environment,” HIRI said. “Many are prioritizing minimalist designs and additional spaces that can optimize and elevate their living situation without compromising aesthetic appeal.”
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