Finish Carpentry Contractors NAICS 238350

Apr 13, 2026 - US Homes Reach Record Age of 44 Years

• The aging of the US housing stock is likely to support continued remodeling spending, including finish carpentry work. The median age of US homes has reached a record 44 years, driving up maintenance and modernization costs as aging properties require major repairs, according to Harvard researchers and The Wall Street Journal. Much of the housing stock dates to building booms in the 1920s, postwar years, and 1970s, and has not been replaced by new construction. Experts now recommend homeowners budget 2% to 3% of a home’s value annually for upkeep, rather than the traditional 1%. Aging homes also raise insurance risks, limit resale options, and increase financial strain, especially as nearly half of renovation spending now goes to essential replacements.
• The total value of private US construction put in place dropped by 0.6% in January 2026 compared to the prior month, according to the US Census Bureau. Residential spending fell 0.8%, as multifamily spending dropped 0.7% and single-family construction spending declined 0.2%. Nonresidential spending decreased 0.4%. Only four subsegments of the nonresidential building sector saw growth in January compared to December 2025: office (+1.1%), healthcare (+0.4%), communication (+0.2%), and lodging (+0.1%). The remaining nonresidential building categories posted flat or negative growth in January 2026, including commercial (-0.1% from December), educational (-1.1%), religious (-1.1%), amusement and recreation (-0.9%), transportation (-0.2%), manufacturing (-2%), and power (0%).

• North American construction and engineering spending is expected to remain flat in 2026 after declining by 1% in 2025, according to FMI’s second-quarter 2026 North American Engineering and Construction Outlook. Within building segments, office construction is projected to grow 6% in 2026, driven by strong data center demand, while health care (+2%) also expands amid large hospital projects. Education, and amusement and recreation are expected to remain stable but notch flat spending growth in 2026. Several segments will decline, including lodging (-4%), commercial (-6%), and public safety (-2%), reflecting financing constraints and uneven demand, while manufacturing construction is also projected to fall (-2%) following a surge in prior years. Residential building activity continues to weaken, with single-family construction forecast to drop 2% due to affordability pressures and elevated mortgage rates. Multifamily spending is projected to be down 1% as high supply levels weigh on rent growth and new development.
• The NAHB/Westlake Royal Remodeling Market Index (RMI) reading for the first quarter of 2026 was 62, down two points from the fourth quarter of 2025, according to an April 2026 report by the National Association of Home Builders (NAHB). Any RMI reading over 50 indicates that most remodelers feel market conditions are good. In the first quarter, the Current Conditions Index portion of the RMI fell one point to 70 compared to Q4 2025. The Future Indicators Index component of the RMI declined by two points to 54. Despite a slight downward movement, the RMI remains solidly in positive territory. While remodelers continue to be challenged by passing higher costs onto customers, demand is supported by the aging of the US housing stock and the lock-in effect of high mortgage rates, which prompt many homeowners to upgrade existing homes rather than move.