CAMBRIDGE, MA – Annual spending on home improvements and repairs is expected to remain relatively flat through late 2027, according to the latest Leading Indicator of Remodeling Activity (LIRA) from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. Year-over-year growth in renovation and repair spending is expected to reach just 1.5 percent by the third quarter.

“Retail spending on building products has been flat to negative, and remodeling permits have stagnated, which points to continued sluggish renovation activity,” said Rachel Bogardus Drew, Director of the Remodeling Futures Program at the Center. “We expect annual spending to hover around $525 billion through the third quarter of next year.”

“Housing starts also continue to decline, and we are seeing persistent weakness in the broader housing market,” said Chris Herbert, Managing Director of the Center. “These ongoing headwinds could slow growth in remodeling spending even further in the quarters ahead.” 

Source: Kerry Donahue, Director of Communications (617) 495-7640, This e-mail address is being protected from spambots. You need JavaScript enabled to view it