💨 Abstract

Despite economic uncertainty, U.S. homeowners are spending more on renovations, with building materials sales up 0.8% last month and 3.2% year-over-year. This trend persists amidst rising home repair costs, driven mainly by labor rather than tariffs. Home Depot notes fewer large projects due to high interest rates, but overall spending is resilient and expected to grow. Aging homes and elevated mortgage rates contribute to this trend.

Courtesy: WTOP Staff