Home remodeling expected to remain strong through Q3 2018

Remodeling 03Daily Real Estate News notes that remodeling activity will remain strong throughout the third quarter 2018, based on the Leading Indicator of Remodeling Activity (LIRA) report recently released by the Joint Center for Housing Studies of Harvard University. The LIRA index projects annual gains in home renovation and repair spending of 6.3 percent for the fourth quarter of 2017 and up to 7.7 percent by the third quarter of next year.

“Recent strengthening of the U.S. economy, tight for-sale housing inventories, and healthy home equity gains are all working to boost home improvement activity,” says Chris Herbert, managing director of the Joint Center for Housing Studies. “Over the Bathroom remodelcoming year, owners are projected to spend in excess of $330 billion on home upgrades and replacements, as well as routine maintenance.”

For homeowners looking to remodel for resale, the National Association of REALTORS® publishes a report looking at the costs of some of the top remodeling projects. Take a look at the 2017 Remodeling Impact Report.

Information provided by Keller Williams Dallas Metro North. Call us today – we have over 400 qualified realtors ready to assist you with your real estate needs!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s