HBS Dealer - Housing starts wrapped up 2020 with another show of strength.
Privately-owned housing starts increased 5.8% to 1.669 million in December 2020 above the revised November estimate of 1.578 million, according to the latest Monthly Residential Construction report released this morning by the Census Bureau and Department of Housing and Urban Development.
The latest report also places December housing starts 5.2% above the December 2019 rate of 1.587 million.
HBSDealer Staff - While remodeling spending is expected to rise in 2021, growth will not be as strong compared to the prior year.
Annual gains in spending for improvements and repairs to owner-occupied homes are expected to be modestly higher in 2021 compared to last year, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies (JCHS) of Harvard University.
HBSDealer Staff - The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) posted a reading of 79 in the fourth quarter of 2020.
While the reading marks a three-point drop from a level of 82 in the third quarter, the NAHB said that the latest reading indicates remodelers’ confidence in their markets for projects of all sizes despite the ongoing negative impacts of the coronavirus pandemic.