Two forecasts on the home remodeling market suggest annual spending will top off by the end of 2023 and start to contract in 2024.
Tag: Joint Center for Housing Studies
Sharp Slowdown Expected in Home Remodeling
The Leading Indicator of Remodeling Activity, a quarterly forecast from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, Cambridge, Mass., projects year-over-year growth in homeowner remodeling and repair spending to shrink from 16.1 percent in 2022 to 6.5 percent by the third quarter 2023. And The National Association of Home Builders Remodeling Market Index for the third quarter posted a 10-point year over year decline in the third quarter, falling to 77.
Record-Breaking Home Prices, Rents Likely to Cool
After a record-shattering 2021, the housing market has reached an inflection point, according to the Harvard Joint Center for Housing Studies, Cambridge, Mass.
The State of the Nation’s Housing: Millions Face Risk of Eviction or Foreclosure
Households that weathered the pandemic without financial distress are “snapping up” the limited supply of homes for sale, pushing up prices and excluding less-affluent buyers from homeownership, the Joint Center for Housing Studies at Harvard University reported Wednesday.
The State of the Nation’s Housing: Millions Face Risk of Eviction or Foreclosure
Households that weathered the pandemic without financial distress are “snapping up” the limited supply of homes for sale, pushing up prices and excluding less-affluent buyers from homeownership, the Joint Center for Housing Studies at Harvard University reported Wednesday.
Pandemic a ‘Boon’ for Home Improvement
While the U.S; economy shrank by 3.5 percent in 2020, spending on home improvements and repairs grew more than 3 percent, to nearly $420 billion, as households modified living spaces for work, school and leisure in response to the COVID-19 pandemic, according to Improving America’s Housing 2021, a new report by the Harvard Joint Center for Housing Studies.
For Remodeling Market Outlook, an ‘Abrupt About-Face’
The coronavirus pandemic is taking its toll on many sectors of the housing market—and according to the Joint Center for Housing Studies of Harvard University, the previously solid home remodeling market is about to take a hit as well.
Commercial/Multifamily Briefs
Harvard University’s Joint Center for Housing Studies postponed its annual State of the Nation’s Housing report due to the coronavirus pandemic.
Residential Remodeling Outlook: Slight Gains in 2020
National spending for improvements and repairs on owner-occupied homes is expected to rise “only modestly” this year, according to the Leading Indicator of Remodeling Activity by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, Cambridge, Mass.
Signs of Wavering in Remodeling Forecasts
Annual gains in homeowner spending for improvements and repairs are set to “give out” by the second half of next year, according to the Leading Indicator of Remodeling Activity report from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.