Home Improvement Shopping

According to the Leading Indicator of Remodeling Activity, annual growth in home renovation and repair expenditures will reach 8.6% by the second quarter of 2022. The most recent report, which is part of the Remodeling Futures Program at the Joint Center for Housing Studies at Harvard University, points to gains in retail sales of building materials as evidence of the contribution that the DIY segment is making to the home improvement category. This week’s Home Retail Consumer Monitor shows that 43% of all homeowners surveyed have made a home improvement purchase within the past year, with Millennials leading the way at 53%.