A workman cuts sections of lumber at a housing site in Madison County, Miss., on March 16, 2021. Rogelio V. Solis/AP Photo
The high cost of new residential homes, coupled with elevated mortgage rates, has Americans turning to remodeling as a more cost-effective alternative to new construction.
The National Association of Home Builders (NAHB) said in its Eye on Housing report, published Nov. 10, that more than half of all residential builders are remodeling contractors. The number of remodeling contractors jumped 85 percent, from 69,000 in 2000 to more than 128,000 in the first quarter of 2025.
