{"id":5382,"date":"2017-07-20T00:00:00","date_gmt":"2017-07-20T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/owners-tackle-more-remodels-as-equity-rises\/"},"modified":"2017-07-22T12:25:19","modified_gmt":"2017-07-22T12:25:19","slug":"owners-tackle-more-remodels-as-equity-rises","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/owners-tackle-more-remodels-as-equity-rises\/","title":{"rendered":"Owners Tackle More Remodels as Equity Rises"},"content":{"rendered":"

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\n <\/p>\n
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Spending on repairs and home improvement\u00a0continues to grow at a stable rate as homeowners feel more confident\u00a0about starting projects as their home values increase.\u00a0<\/p>\n

That said, an annual increase in remodeling expenditures may soften somewhat in the coming months, but will likely remain at or above 6 percent through the second quarter of 2018, according to the latest Leading Indicator of Remodeling <\/span>Activity from\u00a0<\/span>Harvard University\u2019s Joint Center for Housing<\/a> Studies.\u00a0<\/p>\n

\u201cThe remodeling market continues to benefit from a stronger housing market and, in particular, solid gains in house prices, which are encouraging owners to make larger investments in their homes,\u201d says Chris Herbert, managing director of the Joint Center for Housing Studies. \u201cYet, weak gains in home sales activity due to tight inventories in many parts of the country is constraining opportunities for more robust remodeling growth given that significant investments often occur around the time of sale.\u201d\u00a0<\/p>\n

Despite some projected easing this year, the remodeling market will overall continue to increase above its long-term average, says Abbe Will, research associate in the Remodeling Futures Program at JCHS.\u00a0<\/p>\n

\u201cOver the coming 12 months, national spending on improvements and repairs to the owner-occupied housing stock is projected to reach fully $324 billion,\u201d Will says.\u00a0<\/p>\n

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\u00a0\n<\/p>\n

Source: \u201cSteady Gains in Remodeling Activity Moving Into 2018,\u201d Harvard University\u2019s Joint Center for Housing Studies (July 20, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n

Realtors.org <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Spending on repairs and home improvement\u00a0continues to grow at a stable rate as homeowners feel more … Owners Tackle More Remodels as Equity Rises<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":5383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[12908,543,215,248,627,127,617,344,1007,41,818,479],"class_list":["post-5382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-homeowners","tag-homes","tag-house","tag-housing","tag-owners","tag-property","tag-real","tag-realtor"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/LIRA%20chart.png?fit=1067%2C800&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1438,"url":"https:\/\/amazingproperty.com.ng\/blog\/owners-are-spending-more-on-remodeling\/","url_meta":{"origin":5382,"position":0},"title":"Owners Are Spending More on Remodeling","author":"Amazing Property","date":"February 28, 2017","format":false,"excerpt":"[ad_1] Baby boomers may be sparking a remodeling boom. Homeowner spending on remodeling projects is expected to see steady growth through 2025, according to Demographic Change and the Remodeling Outlook, released by Harvard Joint Center for Housing Studies.\u00a0Older owners are expected to make up the majority of those spending gains\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3704,"url":"https:\/\/amazingproperty.com.ng\/blog\/more-homeowners-tackle-renovation-projects\/","url_meta":{"origin":5382,"position":1},"title":"More Homeowners Tackle Renovation Projects","author":"Amazing Property","date":"April 21, 2017","format":false,"excerpt":"Homeowners are sprucing up their properties and undertaking more remodeling and repair projects, according to a recent study. The Leading Indicator of Remodeling Activity, released by the Joint Center for Housing Studies at Harvard University, shows an annual growth in home improvement and repair expenditure this year that will remain\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6744,"url":"https:\/\/amazingproperty.com.ng\/blog\/remodeling-activity-to-spike-through-2018\/","url_meta":{"origin":5382,"position":2},"title":"Remodeling Activity to Spike Through 2018","author":"Amazing Property","date":"October 23, 2017","format":false,"excerpt":"As homeowners gain more equity, they are expected to continue heavily investing in home improvement projects and repairs through the third quarter of 2018, according to the latest Leading Indicator of Remodeling Activity report released by the Joint Center for Housing Studies of Harvard University. The LIRA index projects annual\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"2017 Remodeling Impact Infographic 09 28 2017 1300w 2932h.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/2017-remodeling-impact-infographic-09-28-2017-1300w-2932h.jpg?fit=532%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/2017-remodeling-impact-infographic-09-28-2017-1300w-2932h.jpg?fit=532%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/2017-remodeling-impact-infographic-09-28-2017-1300w-2932h.jpg?fit=532%2C1200&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":6675,"url":"https:\/\/amazingproperty.com.ng\/blog\/more-renovations-in-the-forecast-for-2018\/","url_meta":{"origin":5382,"position":3},"title":"More Renovations in the Forecast for 2018","author":"Amazing Property","date":"October 19, 2017","format":false,"excerpt":"Projections for next year\u2019s housing market are already underway, as 2018 could be seeing significantly more home renovations and repairs taking place. A report released today from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University predicts a growing momentum in 2018 for money spent\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Lira2017 Q3 0.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/lira2017-q3_0.png?fit=1200%2C904&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/lira2017-q3_0.png?fit=1200%2C904&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/lira2017-q3_0.png?fit=1200%2C904&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/lira2017-q3_0.png?fit=1200%2C904&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/lira2017-q3_0.png?fit=1200%2C904&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":4574,"url":"https:\/\/amazingproperty.com.ng\/blog\/the-top-remodeling-motivators\/","url_meta":{"origin":5382,"position":4},"title":"The Top Remodeling Motivators","author":"Amazing Property","date":"May 15, 2017","format":false,"excerpt":"[ad_1] Homeowners say their top motivation for remodeling is simply because they \u201cdesire better\/newer amenities,\u201d according to the National Association of Home Builders\u2019 Remodeling Market Index for the first quarter of 2017. The desire for better amenities narrowly beat out the \u201cneed to repair\/replace old components\u201d once again in this\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/NAHB%20chart_remodeling.png?fit=708%2C632&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/NAHB%20chart_remodeling.png?fit=708%2C632&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/NAHB%20chart_remodeling.png?fit=708%2C632&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/NAHB%20chart_remodeling.png?fit=708%2C632&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":4095,"url":"https:\/\/amazingproperty.com.ng\/blog\/aging-owners-tackle-house-projects-to-stay-put\/","url_meta":{"origin":5382,"position":5},"title":"Aging Owners Tackle House Projects to Stay Put","author":"Amazing Property","date":"May 2, 2017","format":false,"excerpt":"Aging homeowners say they want to remain in their homes as they get older, and they\u2019re increasingly taking on remodeling projects to help them do that. 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