Harvard report: Home improvement spending expected to increase in 2016​

Annual spending on home remodeling projects will increase from 2.4 percent in the second quarter of this year to 6.8 percent by the same quarter next year.

Riding on the coattails of positive housing market conditions, home improvement spending is expected to pick up heading into 2016, according to a recent report released by Joint Center for Housing Studies of Harvard University.

The report, called the Leading Indicator of Remodeling Activity (LIRA) and released by the university’s Remodeling Futures Program, projects that annual spending on home remodeling projects will increase from 2.4 percent in the second quarter of this year to 6.8 percent by the same quarter next year.

Still to be determined, however, is how these gains will be affected by current slowdowns in shipments of building materials and remodeling contractor employment trends.

More details here.

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