{"id":23558,"date":"2021-10-21T11:16:51","date_gmt":"2021-10-21T18:16:51","guid":{"rendered":"https:\/\/ctasc.com\/?p=23558"},"modified":"2021-10-21T11:16:51","modified_gmt":"2021-10-21T18:16:51","slug":"remodel-activity-projected-to-remain-strong-into-2022-says-jchs","status":"publish","type":"post","link":"https:\/\/ctasc.com\/remodel-activity-projected-to-remain-strong-into-2022-says-jchs\/","title":{"rendered":"Remodel Activity Projected to Remain Strong into 2022, Says JCHS"},"content":{"rendered":"<h3>Remodel Activity Projected to Remain Strong into 2022, Says JCHS<\/h3>\n<p>October 21, 2021 from Floor Focus FloorDaily.net News<\/p>\n<div class=\"image-holder alignright\"><\/div>\n<p>Camb<a href=\"https:\/\/www.floordaily.net\/flooring-news\/remodel-market-projected-to-remain-strong-into-2022-says-jchs#\"><img loading=\"lazy\" id=\"ContentMain_img2\" class=\"hidden-xs alignleft\" src=\"https:\/\/www.floordaily.net\/images\/articles\/35775\/6e994899-739c-4140-806a-0c3a93e57441full.jpg\" alt=\"Remodel Activity Projected to Remain Strong into 2022, Says JCHS\" width=\"124\" height=\"126\" \/><\/a>ridge, MA, October 21, 2021- The Leading Indicator of Remodeling Activity (LIRA) projects year-over-year gains in annual improvement and repair spending will reach 9% in the fourth quarter and maintain that pace into 2022, according to the by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.<\/p>\n<p>\u201cResidential remodeling continues to benefit from a strong housing market with elevated home construction and sales activity and immense house price appreciation in markets across the country,\u201d says Carlos Mart\u00edn, project director of the Remodeling Futures Program at the Center. \u201cThe rapid expansion of owners\u2019 equity is likely to fuel demand for more and larger remodeling projects into next year.\u201d<\/p>\n<p>\u201cWith these tailwinds, annual improvement and repair expenditures by homeowners could reach $400 billion by the third quarter of 2022,\u201d says Abbe Will, associate project director of the Remodeling Futures Program. \u201cYet there are several headwinds that could still taper the expected growth in remodeling spending including the rising costs of labor and building materials, as well as increasing interest rates.\u201d<\/p>\n<p>A year after the unprecedented changes to the U.S. economy brought on by the pandemic, many economic indicators are showing extreme percent changes from pandemic-induced lows. To reduce the enormous growth rate volatility generated by these year-over-year comparisons, the projections for 2022-Q2 and -Q3 utilize smoothed data for three leading model inputs: residential remodeling permits, single-family housing starts, and existing single-family home sales. Using unsmoothed inputs in the LIRA model would have projected unlikely annual growth rates roughly two-thirds larger than reported. The Remodeling Futures Program will continue to monitor input volatility.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Leading Indicator of Remodeling Activity (LIRA) projects year-over-year gains in annual improvement and repair spending will reach 9% in the fourth quarter and maintain that pace into 2022, according to the by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.\u00a0<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"xn-wppe-expiration":[],"xn-wppe-expiration-action":[],"xn-wppe-expiration-prefix":[],"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[25,58,24],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v15.9.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Remodel Activity Projected to Remain Strong into 2022, Says JCHS - 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