U.S. Remodeling Spending Strength May Recede Late 2022

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

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