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Expenditures for improvements and repairs to the owner-occupied housing stock are expected to grow throughout 2022 and into early next year, but at a decelerating pace.
It’s all about the energy bills.
Demand for home improvement grew during the pandemic despite inflation, worker shortages and supply chain issues
While the intensely competitive market has deterred some from looking for a place to move to, rising valuations allow for more funds to be accessed to pay for repairs.
A recent study by the Harvard Joint Center for Housing Studies projects spending on home improvements will rise between 7.6% and 23% in 2022.