CAMBRIDGE, MA – An improving housing market and record low interest rates are driving projections of strong gains in home improvement activity through the end of the year and into the first half of 2013, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA suggests that the seeds for what appears to be a very robust remodeling recovery have been planted, with annual homeowner improvement spending expected to reach double-digit growth in the first half of 2013.Thursday, October 18, 2012
“After a bump in home improvement activity during the mild winter, there was a bit of a pause this summer,” says Eric S. Belsky, managing director of the Joint Center. “However, the LIRA is projecting an acceleration in market activity beginning this quarter, and strengthening as we move into the new year.”
“Strong growth in sales of existing homes and housing starts, coupled with historically low financing costs, have typically been associated with an upturn in home remodeling activity some months later,” says Kermit Baker, director of the Remodeling Futures Program at the Joint Center. “While the housing market has faced some unique challenges in recent years, this combination is expected to produce a favorable outlook for home improvement spending over the coming months.”
Here is a link to their website: http://www.jchs.harvard.edu/lira-home-remodeling-spending-set-accelerate
My sense of things in the St. Louis area is that this is something that could happen. Deferred maintenance cannot be deferred forever. There are some programs in the region now and others coming on line in 2013 that my be of benefit to those looking to maximize value, energy efficiency and comfort as a part of a project.
shows loans, rebates and incentives for home energy audits, for example.