By Kiersten Willis
From The Atlanta Journal-Constitution
There’s been a boost in at-home renovation projects within the past year. While remodeling expenditures are slowing down, they are still a hot ticket item within the market.
The Leading Indicator of Remodeling Activity released in July forecasts “year-over-year gains in remodeling expenditures to owner-occupied homes will decelerate from 17.4% in 2022 to 10.1% by the second quarter of 2023.”
“While beginning to soften, growth in spending for home improvements and repairs is expected to remain well above the market’s historical average of 5%,” Abbe Will, Associate Project Director of the Remodeling Futures Program, said in the report “In the first half of 2023, annual remodeling expenditures are still set to expand to nearly $450 billion.”…