CAMBRIDGE, MA – Home improvement spending will see only modest gains this year, dampened by a still-stalled housing recovery and concern over the pace of economic growth nationally, according to the Leading Indicator of Remodeling Activity (LIRA) from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA projects annual growth slowing throughout the year with spending up only 0.2% in 2011.
"Given all the economic uncertainty that we’re seeing nationally, the home improvement recovery is expected to be rocky," says Eric S. Belsky, managing director of the Joint Center. "Spending patterns through the remainder of the year are expected to reflect recent volatility in the housing market."
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