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. Read More
Read MoreAuthor: Editorial Staff
Two remodels featured on the Reston Home Tour
This year’s Reston Home Tour offers a look inside two beautifully remodeled homes, each reflecting unique designs tailored to their owners’s lifestyles. The first home features a complete main-level renovation designed for entertaining, while the second home blends modern design with natural elements. Read more
Read MoreNAHB reports remodeling market sentiment dips in Q3
The National Association of Home Builders (NAHB) released its third quarter Westlake Royal Remodeling Market Index, showing that the quarter is down two points on average from 65 to 63. Both large- ($50,000+) and moderate-sized ($20,000 – $50,000) projects fell down three points, more than the two points small projects (under $20,000) lost. Despite the decline, most remodelers remain optimistic since an index of about 50 would still indicate a healthy market condition. Read more
Read MoreHome renovation trends to watch
With the home renovations market growing, many homeowners find that their budgets run over $5,000 after the dust has settled. Despite this, homeowners are still shelling out for popular updates, such as spa-like touches in the bathroom, bold accent walls, and energy-efficient upgrades like HVAC systems. Read more
Read More