Contributor Gary Thill looked at at four different reports, from different organizations— Harvard’s Joint Center for Housing Studies (JCHS), the National Association of Home Builders (NAHB), the National Association of the Remodeling Industry (NARI), and the American Hardware Manufacturers Association (AHMA)— and what each says about the current and future state of the housing market. What Thill finds is that all four reports came up with different conclusions on the growth of the industry.
1. Harvard’s Joint Center for Housing Studies predicts that there will be a growth in remodeling and repair projects into 2017 with an 8.6% spending increase by the end of the year.
2. National Association of Home Builders' report is less confident than JCHS, but predicts “modest” future growth with small declines.
3. National Association of Remodeler’s Industry says that growth is happening, but at a modest rate. The report says that the key here is trying to get consumers to become more comfortable with making decisions to move forward and not be hesitant to take on larger projects.
4. The American Hardware Manufacturers Association found in its index, which surveyed its members on their “mood” towards the economy, that members reported that sales were above current levels from the previous year, but fell from 68% in February to 63% in March 2016.