Remodeling Spending to Slow Through Q1 2024

The Leading Indicator of Remodeling Activity (LIRA) for the first quarter predicts that remodeling and repair spending will decline to a 2.8% growth rate by Q1 2024, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. This compares to 13.8% growth in the first 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 of expenditures for the current and subsequent four quarters. See Harvard’s Joint Center for Housing Studies

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