A new report has found that nearly half of the country’s homes have already been retrofitted, leaving a significant gap in the housing market, according to new data from the Census Bureau.
“Homeowners are making great progress, but the housing industry needs to do more,” said Matt Kibbe, senior director of the Urban Land Institute.
The census data also show that while the median home is getting a facelift, many of those remodels are only for newer homes.
In the past, the median cost of a remodeled home was $1.5 million.
That figure dropped to $1,400 in the latest data.
The average cost of the average remodeled house in the first quarter of 2019 was $3.4 million, according the report.
Home owners who can afford the extra cash could also save money by remodeling.
In fact, the average cost for a new home remodeled in 2018 was $7.5 billion, up $6 billion from the previous year, the report said.
“This is a sign of progress.
It is good to see homebuyers getting a little more confident about the housing recovery, Kibbeth said.
The report found that remodeling is growing, with average remodels increasing by 4.3 percent from a year ago.
The majority of the cost savings comes from lower-priced homes.
Homeowners are saving $2,600 on average on remodels.
They are also saving $7,000 more per home on average than they were a year earlier.
There’s a sense of urgency that we’re seeing,” he said. “
We’re seeing a shift in homeownership.
There’s a sense of urgency that we’re seeing,” he said.
Kiba said that’s a sign that a lot of people are willing to pay a little bit more to get into a house that looks brand new.
“It’s also a sign to people that if you buy a house, you’re going to be able to pay for that house down the road.”