LIRA: Glimmers of Hope for Remodeling in 2012

CAMBRIDGE, MA – After a slow start, home improvement spending is expected to trend up later this year, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.  If this momentum continues to build during the second half of the year, remodeling activity is on course to end 2012 on a positive note.

“We’re beginning to see some hopeful signs in the economy, and the housing market is finally starting its slow recovery,” says Eric S. Belsky, managing director of the Joint Center.  “That should prove helpful for home improvement spending as the year progresses.”

“Sales of existing homes have been increasing in recent months, offering more opportunities for home improvement projects,” says Kermit Baker, director of the Remodeling Futures Program at the Joint Center.  “As lending institutions become less fearful of the real estate sector, financing will become more readily available to owners looking to undertake remodeling.”

Click to view/save LIRA graphic.
More information about the LIRA (FAQ, etc.)
Click to view historical LIRA data and calculation methodology

LIRA 2011 Forth Quarter

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