After two years of decline, spending for residential remodeling is projected to increase 1.2% in 2025, according to the Joint Center for Housing Studies of Harvard University’s Leading Indicator of Remodeling Activity.
JCHS is attributing a solid labor market, rising home values and continued improvement in existing home sales to the projected increased activity in home remodeling and repair.
The LIRA found that strong gains in homeownership and record-high home values caused remodeling spending to increase 25.3% in 2022, but spending dropped in 2023 and 2024.
Read the full report here.
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