U.S. Remodeling Expected to Grow Into 2022
The most recent Leading Indicator of Remodeling Activity (LIRA) reported that remodeling and repair spending is expected to remain strong through March 2022, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA predicts “mid-single digit gains” through 2021, with 4.8% growth in the first quarter 2022.
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