The Leading Indicator of Remodeling Activity (LIRA) for the third quarter predicts that remodeling and repair spending will decline 7.7% by the end of Q3 2024, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. This compares to 5.4% growth in the third quarter of 2023 over the same period in 2022.
The LIRA, published quarterly, is a short-term outlook of U.S. home improvement and repair spending of owner-occupied homes. The report is designed to project an annual rate of change in expenditures for the current and subsequent four quarters. See Harvard’s Joint Center for Housing Studies