The second quarter Leading Indicator of Remodeling Activity (LIRA) reported that strong growth in the remodeling and repair industry is expected to continue through 2022, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA predicts 9.2% growth in the fourth quarter of 2021 compared the same period in 2020. Growth is expected to dip slightly to 8.8% through the second quarter of 2022 and then jump to 12.3% in the 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