The growth rate in spending on larger remodeling projects is continuing to slow, with total spending expected to rise by only 3.1% in the 12 months ending next June, the Joint Center for Housing Studies of Harvard University forecast today. Its Leading Indicator of Remodeling Activity—aka LIRA—calls for spending on home improvement projects to total $136.7 billion over the next four quarters. That 3.1% gain is only half the rate of increase we had just two quarters ago. LIRA measures only spending for projects worth $500 or more and excludes all spending on rental housing. Read more
