Remodeling activity is projected to decline on an annual basis beginning in the fourth quarter of 2023.
Ed Brady of the Home Builders Institute shares the state of the construction labor market.
While the jobs market is showing signs of gradual slowing, high wage growth remains.
Supply-side limitations coupled with housing strength have caused lumber prices to rise in recent months.
Zonda’s Residential Remodeling Index projects annual decreases in remodeling sector activity through 2025.
