Remodeling expenditures are expected to trend up through the first half of 2025, according to the Joint Center for Housing Studies of Harvard University.
Researchers attribute the projected increase in remodeling expenditures to weakness in home sales and sale of building materials.
Home remodeling increased during the pandemic, according to JCHS, but now owners are making upgrades and repairs at a steadier pace.
Annual spending on improvements and maintenance is expected to reach $466 billion through the second quarter of 2025, on par with spending over the past four quarters.
The full report can be found here.
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