Remodeling booms as housing stock ages
According to the latest from the U.S. Census Bureau, sales of new homes fell almost 7 percent in January from the month before. The monthly numbers bounce around a lot, but new home sales have been sluggish for the past several months. One reason: Not as many new homes are getting built. That’s fueling a booming remodeling industry as more people live in older homes and seek to “age in place.” A report from Harvard University found that spending on home improvement and repair has increased by 50 percent since the recession.
Click the audio player above to hear the full story.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
