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CAMBRIDGE, MA – Strong growth in home improvement and maintenance expenditures is expected to continue over the coming year, according to the Leading Indicator of Remodeling Activity (LIRA) compiled by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.  The LIRA projects year-over-year gains in annual improvement and repair spending will reach 9 percent in the fourth quarter and maintain that pace into 2022.

Homeowner spending has surged, and the projections for the fourth quarter of 2021 look to increase to 9.2% from the third quarter’s 7.6%.

Remodeling is experiencing strong growth in home improvement and maintenance spending.

Harvard Joint Center for Housing Studies predicts continued increases in remodeling spending into the coming year.

Ikuhiro Yamagata, Japanese Celebrity Interior Designer Shares Insights On Timeless Design Ikuhiro Yamagata Photo: Ikuhiro Yamagata The other side of the housing boom arrived: home renovation. The housing boom in 2020, triggered a renovation boom in 2021. Home renovation market is forecasted to grow by 9% this year and an additional 4% next year. The remodeling market bounced back stronger than it was pre-pandemic. Home improvement and repair spending grew by an estimated 3% to $420 billion in 2020, a recent study by Harvard University’s Joint Center for Housing Studies (JCHS) found...