Still operating during a residential construction downturn, pro dealers are increasingly turning to remodeling to lift their top and bottom line. Spending on renovations is experiencing healthy growth in 2012, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. In their most recent quarterly forecast, the researchers pointed to stronger pending home sales and continuing low interest rates as contributors to an expected 5.9% rise in spending on home remodeling projects this year.

Spending on renovations should experience “healthy growth” in 2012, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. In their quarterly forecast, called the Leading Indicator of Remodeling Activity (LIRA), the researchers pointed to stronger pending home sales and continuing low interest rates as contributors to an expected 5.9% rise in spending on home remodeling projects this year.  

Home improvement spending will remain weak through the first half of 2012 thanks to a down economy and housing market, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA pointed to a modest decline in annual homeowner improvement spending over the next several quarters.

After showing signs of recovery, spending on home improvements is expected to remain volatile and weak over the next several quarters, according to a report released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The Leading Indicator of Remodeling Activity (LIRA) projected that annual remodeling spending through the first quarter of 2012 will be down 4%. The Census Bureau’s improvements spending series, to which the LIRA is benchmarked, was recently revised downwards as well.

The Harvard Joint Center for Housing Studies has named Dan Fulton, president and CEO of Weyerhaeuser, as the new chair of its Policy Advisory Board.

“I’m honored to step into the chairman position,” Fulton said. “As a longstanding member of the Policy Advisory Board, I’ve always respected the rigorous research taking place at the Joint Center. I’m looking forward to being involved on this new level.”