Home Improvement Spending Growth Expected to Ease Through 2027

Home Improvement Spending Growth Expected to Ease Through 2027

USA: The latest Leading Indicator of Remodelling Activity (LIRA) from Harvard University’s Joint Center for Housing Studies forecasts a continued slowdown in US home improvement and repair spending through mid-2027. Annual growth is expected to ease to 0.5% by the second quarter of 2027, with total expenditure reaching approximately US$ 519 billion. The outlook reflects weaker remodelling permits, slower retail sales of building products, reduced housing starts and ongoing economic uncertainty. According to the report, subdued home sales are also limiting renovation activity, with stronger growth unlikely until the housing market shows a sustained recovery. 

Source: HBS Dealer