Double Digit Growth Expected to Continue

Here’s some good news for remodelers, including roofers who focus on retrofit, the biggest part of the roofing market.

remodeling logoAccording to a recent story in Remodeling Magazine by Craig Webb, Double-Digit rises in Remodeling spending will Continue:

“Spending on big-ticket home remodeling projects will continue to rise at a double-digit pace well into this year, the Joint Center for Housing Studies (JCHS) of Harvard University forecast today. Its Leading Indicator of Remodeling Activity (LIRA) predicts $153.8 billion worth of expenditures on major remodeling projects over the 12-month period ending Sept. 30.”

“The ongoing growth that we’ve seen in home prices, housing starts, and existing home sales is also being reflected in home improvement activity,” said Eric S. Belsky, managing director of the Joint Center, in a JCHS news release. “As owners gain more confidence in the housing market, they are likely to undertake home improvements that they have deferred.”

See the full article here.