Home renovation, repair spending expected to rise, then taper in 2017

CAMBRIDGE, Mass. – Home renovation and repair spending is expected to strengthen in 2017, before tapering, according to the Leading Indicator of Remodeling Activity, released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.

The center projects that annual growth in home improvement and repair spending will surpass 8 percent by the second quarter of 2017, before falling back somewhat later in the year.

The industry is now at $327 billion a year.

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