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Remodeling Expenditures Exceeded $200 Billion in 2005
Remodeling expenditures exceeded $200 billion in 2005. NAHB forecasts that those expenditures will more than double over the next 10 years.
NAHB’s Remodeling Forecast issue provides an in-depth exploration of the forces driving the remodeling industry. Historical and forecast tables are presented showing real (inflation-adjusted) and nominal remodeling expenditures, divided into remodeling by owners and renters and by type of remodeling (improvements, maintenance and repairs).
Growth of residential remodeling slowed in 2005 as spending on the owner-occupied housing stock proceeded at a strong pace. But remodeling of renter-occupied housing units declined for the second consecutive year. The NAHB Remodeling Market Index fell in the fourth quarter of 2005, but our forecast assumes that this signals temporary weakness that will be reflected in the fourth-quarter remodeling numbers but is not the precursor of a systematic downturn in the remodeling market. With respect to the near-term outlook, repairs of damage from the 2005 hurricanes will push remodeling expenditures for both owner-occupied and renter-occupied housing units higher in 2006-2007. Full Report
The following Excel tables are included:
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Residential Remodeling Expenditures, 1995 - 2005 (Millions of Dollars)
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Total Improvements Expenditures Data
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Remodeling Expenditures by Types of Job for Owner- and Renter-occupied Properties: 2004
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Remodeling Expenditures: Regional Detail
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Remodeling Expenditures for Owner-Occupied, One-unit Properties by Selected Characteristics
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Remodeling Market Index
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Real Residential Remodeling Expenditures, 1995 - 2005 (Millions of 2000 Dollars)
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Real Residential Remodeling Expenditures, 2004 - 2014 (Millions of 2000 Dollars)
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Residential Remodeling Expenditures Forecast, 2004 - 2014 (Millions of Dollars)
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