Many homeowners are asking the same question right now: Should I move forward with a home improvement project, or wait until things improve? The short answer is no: don't wait. It could cost you more.
With a cooler real estate market and ongoing economic uncertainty, hesitation is understandable. But when you look beyond the headlines and focus on long-term fundamentals, waiting may actually cost more.
Here’s why.
The Market Has Slowed, But Demand Has Not Disappeared
Home sales have cooled compared to the rapid pace of recent years, largely due to higher mortgage rates. That slowdown has led some homeowners to assume construction and remodeling demand will remain soft.
Industry experts and economists say otherwise.
The United States continues to face a substantial housing shortage. Years of underbuilding have created a structural deficit that hasn’t gone away. It’s been temporarily masked by higher borrowing costs.
At the same time, demographic trends are lining up. A large wave of millennials and Gen Z buyers is entering prime home-buying years. When mortgage rates ease, even modestly, pent-up demand is expected to return quickly and forcefully.
When that happens, construction and remodeling activity will surge, and costs will rise with it.
Construction Material Prices Have Stabilized, But This Is Likely the Floor
After extreme volatility during and after the pandemic, construction material pricing has stabilized. That’s good news.
What it does not mean is that prices are headed down.
Manufacturing costs remain elevated. Raw materials, energy, utilities, transportation, insurance, and healthcare costs continue to rise. Labor costs are higher than they were just a few years ago. Natural inflation continues to push baseline expenses upward across the economy.
The most realistic outlook is simple: material prices may move gradually, but the long-term direction is still up.
When Mortgage Rates Drop, Construction Costs Tend to Rise
Lower mortgage rates are great for buyers, but they also unlock demand that has been sitting on the sidelines.
When rates decline:
- New buyers enter the market
- Builders ramp up new construction
- Remodeling demand accelerates
Historically, this leads to tighter labor markets, longer lead times, and higher pricing across the construction industry.
In short, falling rates often result in higher construction and remodeling costs, not lower ones.
The Right Financing Strategy Can Reduce the True Cost of a Project
Financing isn’t just about monthly payments. Used correctly, it can materially reduce the overall cost of a home improvement project.
Right now, select lenders are offering promotional financing programs for qualified homeowners. These may include reduced interest rates, deferred payments, or same-as-cash options.
For larger projects, such as full window replacements, exterior renovations, sunrooms, or multi-room remodeling, timing matters. Locking in today’s pricing while using a favorable financing program can save thousands or even tens of thousands of dollars compared to delaying a project and absorbing higher costs later.
These programs won’t last forever, and neither will today’s pricing environment.
Rising Costs Behind the Scenes Will Continue to Push Prices Higher
Even with recent price stabilization, the underlying cost pressures facing manufacturers have not gone away.
Raw materials, energy, utilities, transportation, insurance, and healthcare costs continue to climb. These expenses directly impact manufacturing, distribution, and installation. Over time, those increases are passed along to contractors and homeowners.
This is not speculation. It’s the economic reality of how products are made and delivered.
Remodeling Is About Control, Not Guessing the Market
Trying to perfectly time the housing or construction market rarely works.
What homeowners can control is improving the home they already own.
Well-planned home improvements deliver value in multiple ways:
- Improved comfort and functionality
- Better energy efficiency and lower operating costs
- Reduced maintenance and repair issues
- Stronger long-term resale value (completed projects done well usually sell quicker and at a greater resale than homes that need remodeling)
If you plan to stay in your home for at least a couple years or longer, delaying a needed project often means paying more later while missing out on years of benefits in the meantime.
What This Means for Homeowners
The real estate market may feel quieter today, but the fundamentals haven’t changed.
There is still a housing shortage. Manufacturing and labor costs remain elevated. Inflation continues to push prices higher over time. And when mortgage rates eventually decline, demand for construction and remodeling is expected to rise sharply, bringing longer lead times and higher prices.
That’s why homeowners who move forward thoughtfully, using the right products, the right company, and the right financing, are often in the strongest position. You’re not trying to “beat the market.” You’re locking in value and gaining years of comfort, efficiency, and peace of mind you can actually feel.
And the company you choose matters. Joyce has been helping homeowners improve their homes for over 70 years, building a reputation on dependable craftsmanship, quality products, and real accountability after the installation is complete. That experience means you’re not navigating today’s uncertainty with a fly-by-night contractor; you’re working with a team that’s guided homeowners through changing markets, changing materials, and changing trends for generations.
Waiting feels safe. In construction, it often isn’t.
If you’re considering a home improvement project, now may be the smartest time to start the conversation.
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