Homeowner spending on home improvements will continue to trend downward into the first half of 2010, according to a recent Leading Indicator of Remodeling Activity report issued by Harvard
University's Joint Center for Housing Studies.
The study forecasts annual decline in remodeling activity to hover at approximately 11% for the next several quarters. While there are some positive developments in the industry, such as low financing costs for home improvement projects and rising home sales in some markets, the study finds that the overall outlook going into 2010 remains bleak due to weak home prices and decreased cost recovery for some types of remodeling projects.
Monday, December 7, 2009
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