Growing Home Sales Expected to Fuel Remodeling

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Posted To: MND NewsWire

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. Expenditures on remodeling reached a recent peak of $146.0 billion in the third quarter of 2014 but declined over the following two...(read more)

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Source: http://www.mortgagenewsdaily.com/07172015_lira_remodeling_index.asp

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