Oct 24

More Owners Are Remodeling: Be Their Guide

More Owners Are Remodeling: Be Their Guide

 

More Owners Are Remodeling: Be Their Guide

More Owners Are Remodeling: Be Their Guide

For your outreach to past prospects, you may want to talk home renovation. There are growing signs that it’s top of mind among more home owners lately, and they might need some advice.

Home renovation and repair spending are showing strong gains that are expected to continue into next year before then leveling off, according to the latest Leading Indicator of Remodeling Activity, an index by the Joint Center for Housing Studies of Harvard University. Remodeling growth is expected to reach new highs in the third quarter of next year.

Annual growth in home improvement and repair expenditures is to surpass 8 percent by the second quarter of 2017, the index projects.

“Home owner remodeling activity continues to be encouraged by rising home values and tightening for-sale inventories in many markets across the country,” says Chris Herbert, managing director of the Joint Center. “Yet, a recent slowdown in the expansion of single family homebuilding and existing home sales could pull remodeling growth off its peak by the second half of 2017.”

 

Could your clients use some remodeling tips? Here are some resources to share:

Source: Joint Center for Housing Studies of Harvard University

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