After more than a decade of continuous growth, annual spending on improvements and repairs to owner-occupied homes is expected to decline by early next year, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.

The NAHB/Westlake Royal Remodeling Market Index (RMI) for the first quarter of 2023 posted a reading of 70, edging up 1 point from the fourth quarter of 2022.

The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the fourth quarter, posting a reading of 66, declining 17 points compared to the fourth quarter of 2021.

Linda Koopersmith, The Beverly Hills Organizer worked with actress Christina Hendricks (Mad Men, Good Girls) on the remodel of a 1908 Craftsman home, which features a gourmet kitchen and hidden storage spaces.

Housing, remodeling, design indexes and studies point to challenges in the market.

Annual gains in improvement and maintenance expenditures to owner-occupied homes are expected to decline sharply by the middle of next year.

The Houzz Renovation Barometer points to a slowdown in business activity but the Q4 outlook varies by industry sector.

Data from the recently released market forecast indicates standard activity levels as inflation spikes and households face reduced income growth.

A Cost vs. Value (CVV) report found that exterior replacement projects continue the multi-year streak of delivering the best return on investment (ROI) for homeowners.

Data from the recently released market update indicates a return to pre-pandemic market levels as inflation spikes and households complete home improvement projects. Ease in consumer spending through 2026 expected.