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Growing Home Sales Expected to Fuel Remodeling
Friday, July 17, 2015
Home remodeling is expected to soon kick back into gear. LIRA, the Leading Indicator of Remodeling
Activity produced by the Joint Center for Housing Studies at Harvard University
is projecting that annual
spending growth for home improvements will accelerate to 4.0% by the first
quarter of 2016.
LIRA is designed to
estimate national homeowner spending on improvements for the current quarter
and subsequent three quarters. The indicator, measured as an annual
rate-of-change of its components, provides a short-term outlook of homeowner
remodeling activity and is intended to help identify future turning points in
the business cycle of the home improvement industry.
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