Stable growth projected for remodeling market through 2017

Healthy and stable growth in home improvement and repair spending is anticipated for the remainder of the year and into the first half of 2018, according to the Leading Indicator of Remodeling Activity from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.

The LIRA projects that annual increases in remodeling expenditures will soften somewhat moving forward, but still remain at or above 6.0 percent through the second quarter of 2018.

“The remodeling market continues to benefit from a stronger housing market and, in particular, solid gains in house prices, which are encouraging owners to make larger investments in their homes,” the center’s managing director Chris Herbert said in a statement.