The home remodeling market is expected to continue showing double-digit improvements through the beginning of 2014, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University's Leading Indicator of Remodeling Activity (LIRA). However, the market is projected to slow down by the middle of 2014.
"The soft patch that homebuilding has seen in recent months, coupled with rising financing costs, is expected to be reflected as slower growth in home improvement spending beginning around the middle of next year," says Eric S. Belsky, managing director of the Joint Center. "However, even with this projected tapering, remodeling activity should remain at healthy levels."
More information on projections is available here.
