
Remodeling Forecast Says Spending Will Decline This Year
The latest forecast from Harvard University’s Joint Center for Housing predicts that a slump in Americans’ remodeling spending may be in store this year.
The latest forecast from Harvard University’s Joint Center for Housing predicts that a slump in Americans’ remodeling spending may be in store this year.
High interest rates and low numbers of home sales are going to drag down homeowners’ spending on renovations and repairs, Harvard University researchers said Thursday.
Higher home prices, recession fears and the near-death of the refinance market are likely to spell a significant slowdown in homeowners’ remodeling spending this year, researchers say.
Growth in improvement and repair expenditures to owner-occupied homes is expected to remain solid throughout the year and into 2022, according to the Joint Center for Housing Studies of Harvard University.
Expenditures for improvements and repairs to owner-occupied homes are expected to slow by the middle of next year as the COVID-19 pandemic continues to unfold, according to the Joint Center for Housing Studies.
A new report by Harvard’s Joint Center for Housing Studies predicts homeowner spending on remodeling is expected to drop through at least the first quarter of 2020 due to the COVID-19 pandemic.
Annual gains in improvement and repair spending on the owner-occupied housing stock are projected to continue decelerating through early next year nationwide, according to researchers at Harvard University.
The coming year is expected to see sustained momentum in home remodeling and repair spending, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Strong gains in nationwide home renovation and repair spending are expected to continue into next year before tapering, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.