More Equity = More Remodeling

As more and more homeowners see their equity increasing, many are turning that money into remodeling. The Joint Center for Housing Studies of Harvard University said its Leading Indicator of Remodeling Activity projects that home remodeling spending will increase by 8.6 percent by the close off 2016 and continue to accelerate to 9.7 percent by the first quarter of 2017.

Analysts estimate that money for remodeling and repairs could climb as high as $325 billion by early 2017.

Bathroom and kitchen remodels remain the most common renovations but whole house remodels and smaller scale additions are gaining traction as homeowners look to add space.

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