Home improvement expenditures in 2016 will increase from a 4.3 percent yearly rate of change in the first quarter to a 7.6 percent rate in the third quarter, surpassing the previous peak level of annual spending that was set in 2006 during the housing market boom, according to the Leading Indicator of Remodeling Activity from the Joint Center for Housing Studies at Harvard University.
The predicted total home improvement spending during the first three quarters of 2016 is $140.9 million, $147.8 million and $154.8 million.
Home improvement spending peaked at $149.7 million in the second quarter of 2006.
Harvard’s predictions and historical data are available online.
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