Remodeling Expected To Accelerate In 2011
Leading Indicator of Remodeling Activity (LIRA)
According to the Joint Center For Housing Studies at Harvard University there may be some good news for the remodeling industry as we move into 2011. According to their study it appears homeowners are beginning to feel more optimistic and likely to start investing in their homes again.
The study point to growth in the double-digit range by the first quarter of 2011. “Absent a reversal of recent economic progress, there should be a healthy upturn in home improvement activity by year-end and into next year,” says Eric S. Belsky, managing director of the Joint Center for Housing Studies.
The next LIRA release in late October shall be very telling of the current trend. With all the uncertainty in recent weeks over the November elections it will be interesting to see whether this trend holds. For now this is certainly welcome news to everyone in the remodeling industry.
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