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Kermit Baker of the American Institute of Architects weighs in on the state of the renovation market.
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Well June housing starts up six point 9%.
Over may that's the highest level that we've seen in nearly four years.
Home builder optimism and a five year high of more proof that the housing market is finally starting to boost this economy.
Now architects.
Are seeing an uptick in residential projects Kermit Baker is chief economist for the American institute.
Of architects.
Tell you what types of projects your members are seeing right now is at war.
New construction projects are you still kind of in -- -- stage of renovation of older homes.
The renovation market Caroline is a little bit stronger today eight started to see it move over to new construction and particularly at the upper into the market.
You that seems to be where.
Most of the wealth is now where most of them the demand is and so we're seeing of the market sort of lift up at the top person hopefully -- -- Move down to the mid size and lower part of the market the next few months.
What one of the most popular type a renovation that your members are saying right now.
Well kitchen and bath are always a very very strong projects are starting to put more money on that -- We reported in our survey this quarter that outdoor living outdoor rooms.
Patio is in things like that have seen quite a surge in in recent years and and probably more this year to with a warm weather.
Do you are you saying any type of design trend right now is it is it more that people are trying to expand the space that they have.
Are they being more cost conscious and trying to -- work with what they have -- it -- kind of not expand.
-- -- -- Well I think there's still is a lot of pressure on affordability households are still being very -- conscious.
Because older household baby boomers are still very active in the market particularly remodeling market.
We're we're seeing more aging in place retro -- Single floor living making homes more accessible.
Getting into and out of homes or more accessible to I think we're gonna continue to see that as baby boomers play a role in the market over the next several years could.
I know what I don't look at -- -- on residential living some of the residential projects taking a small space making it more efficient.
But what about commercial projects what's out there right now.
While the commercial market is is is starting to come back typically the commercial market lags the residential market by.
Several quarters this time because the residential market has been so hard hit we expect.
Commercial will really -- residential by a much shorter amount may be a quarter to and we expect -- -- that market turn up by the end of the year.
I'd say your members can ride a whole book about some of the craziest renovations that they've ever had to -- and accomplish is architect second.
That's my suggestion for your -- -- Kermit Baker thank you very much being honest I don't value.
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