Home Remodeling Boon May Peak in 2022
A new report from Harvard’s Joint Center for Housing Studies says spending on home improvement & repairs is expected to grow at a stronger pace in 2022, however they say there are signs pointing to an easing of that growth by the end of the year. In addition, their Leading Indicator of Remodeling Activity (LIRA) says double-digit gains in annual homeowner renovation & maintenance expenditures will top out in Q3 2022 before beginning a deceleration toward more sustainable rates of growth.
“Strong increases in home sales activity, household incomes, and home equity levels are supporting a faster expansion of the home remodeling market over the coming year…” Said Carlos Martín, Project Director of the Remodeling Futures Program at the Center.
Click here to read the full report at Harvard’s JCHS.
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