Home improvement spending to rise in 2012, according to LIRA
After a slow start, home improvement spending is expected to trend up in 2012, according to the Leading Indicator of Remodeling Activity, recently released by the Remodeling Futures Program at Harvard University’s Joint Center for Housing Studies.
According to the report, remodeling activity is on course to end on a positive note in 2012, if momentum continues to grow in this segment.
“We’re beginning to see some hopeful signs in the economy, and the housing market is finally starting its slow recovery,” says Eric S. Belsky, managing director of the Joint Center. “That should prove helpful for home improvement spending as the year progresses.”
“Sales of existing homes have been increasing in recent months, offering more opportunities for home improvement projects,” says Kermit Baker, director of the Remodeling Futures Program at the Joint Center. “As lending institutions become less fearful of the real estate sector, financing will become more readily available to owners looking to undertake remodeling.”
To read more about the LIRA, visit www.jchs.harvard.edu/lira-glimmers-hope-remodeling-2012.
