Remodeling recovery strengthens
Activity expected to rise by end of year
Casual Living Staff -- Casual Living, 4/30/2012 9:51:00 AM
CAMBRIDGE, Mass. — After two years of bouncing around a bottom, remodeling activity is expected to pick up later this year, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Stronger pending home sales and continuing low interest rates are contributing to the rise. The LIRA projects annual spending will see healthy growth in 2012, ending the year up 5.9%.
"Hopefully, we're finally moving beyond simple volatility in the home improvement spending numbers to a period of sustained growth," said Eric S. Belsky, managing director of the Joint Center. "The recent upturn we've seen in home sales should translate into more remodeling activity later this year."
"Unusually mild weather this past winter in many parts of the country accelerated the pace of homebuilding and home improvement activity," said Kermit Baker, director of the Remodeling Futures Program at the Joint Center. "This may produce a brief pause in remodeling activity this quarter, but then a strengthening economy should provide a foundation for continued growth moving forward."
The Leading Indicator of Remodeling Activity (LIRA) is designed to estimate national homeowner spending on improvements for the current quarter and subsequent three quarters. The indicator, measured as an annual rate-of-change of its components, provides a short-term outlook of homeowner remodeling activity and is intended to help identify future turning points in the business cycle of the home improvement industry. For more information, please visit www.jchs.harvard.edu.
We would love your feedback!
Most Recent Resources
- Getting the most out of offline leads
- Free Shipping and the Importance of Onsite Promotion
- Should Branded Manufacturers Participate in Flash Sales?
- Rugs 101 - Special Edition
- How Big Is Your Label
- Choosing a Web Site Developer
- Convergence: Tie Your Online & Offline Experience...
- Social Networks to Social Shopping
- Why Brands and Their Retailers are Facebook’s Biggest...
- Web Based Intelligence Gathering
- The Future of Tablets
- Shopatron: Bicycles & eCommerce
- A Guide to Holiday eCommerce Success
- Mattress Buying 101 - Connecting with Consumers
- Designing Your Brand’s Website for eCommerce
- Global Sourcing in 2010: Doing More With Less
- Comparing Four Options for Turning Web Site Traffic into...
- Are You Prepared for the 2009 Holiday Season? A Branded...
- Design, Develop, Deliver: The Three D's to Digitally...