The fourth quarter 2021 Leading Indicator of Remodeling Activity (LIRA) expects the strong growth in the remodeling and repair industry to continue through Q3 2022 before easing by year-end, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA predicts an 11.3% rise in the first quarter of 2022 compared to the same period in 2021. Expansion is expected to peak at 19.7% in Q3 and then fall to 17.3% in Q4.
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’s Joint Center for Housing Studies