U.S. Remodeling Spending to Slow in 2023

The fourth quarter 2022 Leading Indicator of Remodeling Activity (LIRA) predicts remodeling and repair spending will slow to 2.6% growth by December 2023 compared to 16.3% at the end of last year, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.

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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