CAMBRIDGE, Mass. (Joint Center for Housing Studies of Harvard University) – Expect slowing growth in residential remodeling to pick up some by the end of the year, says the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
The LIRA projects annual spending for home improvements will increase a more modest 2.9 percent this year.
"Moving forward, signs of higher growth in remodeling activity include strengthening retail sales of building materials,” said Abbe Will, a research analyst with the center. "Also, rising home equity and still favorable interest rates continue to encourage owners to reinvest in their homes."
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