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Remodeling Trends Positive:  Focus on LIRA (Leading Indicator of Remodeling Activity)

Remodeling Trends Positive:  Focus on LIRA (Leading Indicator of Remodeling Activity)

  • May 29, 2016
  • by Columbia Forest Products

10783f16-1369-4b16-bf98-6a2d0b317a86The Leading Indicator of Remodeling Activity provides a short-term outlook of national home improvement and repair spending to owner-occupied homes.

The Remodeling Futures Program at the Joint Center for Housing Studies has maintained this statistic quarterly since 2007 to provide a short-term outlook of national home improvement and repair spending to owner-occupied homes.

A recent effort to “rebenchmark” the statistic has improved its relevance and the good news is, the future this adjusted model points to is positive which is good news for distributors and fabricators as the economy continues to improve.

“The new and improved LIRA projects that home remodeling spending will increase 8.6% by the end of 2016 and then further accelerate to 9.7% by the first quarter of next year” according to the DCHD in a release on April 21st, 2016.

The complete release can be accessed here:  jchs.harvard.edu/robust-remodeling-growth-anticipated-re-benchmarked-lira

Background information on the LIRA itself is accessed here: http://www.jchs.harvard.edu/leading-indicator-remodeling-activity-lira

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