After a modest decline, residential remodeling and repair spending is set to rebound by mid-2025, according to Harvard University’s Joint Center for Housing Studies. The Leading Indicator of Remodeling Activity (LIRA) projects a 1.2% increase in annual renovation expenditures, with spending rising from $472 billion this year to $477 billion by the third quarter of next year.
This forecast signals renewed momentum in the remodeling sector following a slight downturn, with spending levels expected to approach previous peak figures.
