According to new data from Harvard University’s Joint Center for Housing Studies (JCHS), remodeling activity is only expected to grow 1.5 percent over the next year. The latest Leading Indicator of Remodeling Activity (LIRA) forecasts remodeling spending through Q3 2027 to be around $525 billion.
The plataued future for remodeling comes as broader housing activity continues to cool. However, it is a more hopeful outlook than the mid-year LIRA release, which expected spending to decline.
“Housing starts also continue to decline and we are seeing persistent weakness in the broader housing market,” said Chris Herbert, Managing Director of JCHS. “These ongoing headwinds could slow growth in remodeling spending even further in the quarters ahead.”
