Stronger Growth for Remodeling Projected for 2011

Substantive growth in remodeling spending, coming off a three year decline, seems likely in 2011, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. Even though spending is still below its 2007 peak, the LIRA indicates that homeowner improvement spending is expected to be up at a double-digit pace at an annual rate through the first half of 2011.