U.S. Remodeling Spending Growth Expected through 2022
The second quarter Leading Indicator of Remodeling Activity (LIRA) reported that remodeling and repair spending is expected to accelerate through 2021 and remain high through the middle of 2022, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA predicts 8.6% growth in the second quarter of 2022 compared to 6.1% expansion in the same period in 2021.
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