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U.S. Remodeling Market Rises to Record High

The Joint Center for Housing Studies of Harvard University announced that the U.S. remodeling market hit a record high of nearly $425 billion in 2017. The study found that 80% of the nation’s 137 million homes are now at least 20 years old, while 40% are at least 50 years old, fueling the remodeling market. The shortage of new homes, along with a significant increase in rental property maintenance and upgrades, also led to an increase in remodeling spending. See Joint Center for Housing Studies of Harvard University

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