In a sign of the times, analysts are expecting home improvement and maintenance spending to weaken in 2020, with estimated expenses flattening to $325 billion, a decline of 0.3 percent, according to the latest Leading Indicator of Remodeling Activity (LIRA) from Harvard University's Joint Center for Housing Studies' Remodeling Futures Program.
 
"Continued weakness in existing-home sales and new construction will lead to sluggish remodeling activity next year," said Chris Herbert, managing director of the Joint Center for Housing Studies, in a statement. "Slowdowns in other key indicators of improvement spending—project permitting, sales of building materials and home prices—also suggest the remodeling market may be reaching a turning point."
 
"At $325 billion, owner improvement and repair spending in the coming year is expected to essentially remain flat compared to market spending of $326 billion over the past four quarters," said Abbe Will, associate project director in the Joint Center for Housing Studies' Remodeling Futures Program. "However, today's low mortgage interest rates may help counter some of these headwinds, which could buoy home improvement expenditure over the coming year."
 
Source: Harvard University Joint Center for Housing Studies

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