Industry News: November 2017

Industry News - July 2017

As the new year quickly approaches, trends for 2018 become more apparent. We know from following the news the last few months that there’s been an increased demand in first-first time home buying and that the skilled-labor shortage is still impacting the construction industry.

As November begins, headlines are showing trends in various trades that will likely carry into 2018. Now’s the time to keep an eye on the latest news. To help, here are some of the highlights.

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Homebuilding in Q3

Homeownership Rises In Q3

Homeownership has been on the rise since 2016, with more people buying homes. According to the Census Bureau, the homeownership rate rose slightly from this time last year, from 63.5% to 63.9% in the third quarter.

Notably, those in Generation X who were hit hard by the housing crisis, are steadily buying more homes. As  MarketWatch reports, this generation is up a percentage increase year over year. This is an important trend to continue watching as it continues to signal a strong housing market.

Remodeling In Q3

Remodeling Market Remains Strong In Q3

Good news for remodeling pros! The National Association of Home Builders reports that the remodeling market is growing, up two points on their index since Q2. Specifically, in major additions, the NAHB has seen improvements.

The NAHB also reported that remodelers are struggling to find labor for necessary trades such as electrical and carpentry. According to the report, 66% of remodelers reported labor shortages compared to last year. The skilled labor shortage is an issue that continues to impact various trades in construction and remodeling.

Skilled Labor Shortage In USA

Skilled Labor Shortage Impacts Trades

As we continue to talk about the skilled labor shortage, we must try to understand why. According to Builder Online, there could be various reasons that this is making an impact on the industry. Some include not enough opportunities for teenagers to learn in school and other reasons include a lack of motivation to get into the field. These skilled labor shortages are hitting some areas harder than others, such as areas in the Southeast and West Coast.

CNN reports that 900,000 construction workers have left their field since 2006, leaving a large gap that must be filled. With disasters such as Hurricane Harvey and Hurricane Irma, demand has grown for skilled workers to help rebuilding areas.

Solar Technology

New Opportunities In Solar Technology

If you’ve been following solar trends, you know that there are new innovations that are helping to grow the industry quickly. In a recent report from The Independent, solar energy might be coming to the window industry. Researchers and scientists at the University of Michigan have been working to create transparent solar cells that can be used within windows to help harvest the energy.

While it isn’t on the market yet, it’s something solar pros should be paying attention to as it could be a big benefit to their customers. Additionally, it can help to open more opportunities for homeowners and business owners to incorporate solar into their remodeling plans.

Dark Paint Colors Trending

Dark Paint Colors Trending In Late 2017

For interior designers, you’re likely seeing décor trends that will be big in 2018. Currently, trends are pointing to darker paint colors as what will be hot in the new year.

As the New York Times reported in October, companies such as Sherwin-Williams, Glidden Paint and Benjamin Moore have chosen their colors of the year. All are darker hues that make a statement in any room. As white has been the hot choice for homeowners the last few years, this is a dramatic shift. Colors like “Oceanside” by Sherwin-Williams or Olympic Paint’s “Black Magic” are examples of the latest trends. Of course, each dark color is complemented by a lighter color pallet, designed to make the accents of a room pop.


The end of the year is shaping up to be good for many pros. Keep an eye on trends and headlines in your area to see what the new year might have in store. We’ll be sharing in January more of what you need to know to make 2018 a success for your business.

Looking for more of the top headlines? Read Industry News: September 2017.