U.S. Remodeling Predicted to Grow Through Q1 2021
The Leading Indicator of Remodeling Activity (LIRA), recently published by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, reported that there have been moderate gains in remodeling and renovation, and concerns regarding a sustained pandemic-related decline have waned. The LIRA, which incorporates actual and forecasted impacts of the economic shutdown due to the COVID-19 pandemic, predicts growth of 4.1% through Q1 2021 and declines to 1.7% by third quarter.
The LIRA, published quarterly, is a short-term outlook of U.S. home improvement and repair spending of owner-occupied homes and is designed to project an annual rate of change of spending for the current and subsequent four quarters. See Harvard University’s Joint Center for Housing Studies