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Home Renovation Spending To Peak In 2017

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block-quote-verticle-purple-bar-7x100The LIRA tasks that annual progress in residence enchancment and restore expenditures will proceed to extend, surpassing eight % by second quarter 2017 earlier than moderating considerably later within the yr.

 

CAMBRIDGE, Mass. (Joint Center for Housing Studies of Harvard University) – Strong positive aspects in residence renovation and restore spending are anticipated to proceed into subsequent yr earlier than tapering, based on the Leading Indicator of Remodeling Activity (LIRA) by the Remodeling Futures Program on the Joint Center for Housing Studies of Harvard University.

 

The LIRA tasks that annual progress in house enchancment and restore expenditures will proceed to extend, surpassing eight % by second quarter 2017 earlier than moderating considerably later within the yr.

 

“Homeowner remodeling activity continues to be encouraged by rising home values and tightening for-sale inventories in many markets across the country,” says Chris Herbert, managing director of the middle. “Yet a recent slowdown in the expansion of single-family homebuilding and existing home sales could pull remodeling growth off its peak by the second half of 2017.” 


 

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