Harvard study: Spending on home remodeling is expected to accelerate

Remodeling activity among homeowners is expected to accelerate over the coming year, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. According to the Leading Indicator of Remodeling Activity, which was released Thursday by Harvard, quarterly spending on home remodeling across the nation is expected to surpass $300 billion for the first time this quarter, which runs from July 1 to Sept. 30. The $302.9 billion estimated to be spent this quarter is 6.2 percent higher than the $285.2 billion spent during the third quarter of 2015. Furthermore, researchers predict that year-over-year growth is expected to accelerate to 8 percent by the first quarter of 2017, when spending is expected to total $314.5 billion.


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