Frozen housing market sends remodelers mixed messages
Source: CNBC ·
Home remodelers have always served two different markets, but the current state of housing is now pulling them opposite directions.
From the source
A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox. Home remodelers have always served two different markets, but the current state of housing is now pulling them opposite directions. First, people tend to remodel when they move, but high interest rates, high home prices and weak consumer sentiment have put the housing market in a deep freeze. Homeowners also tend to renovate when they are unable or don't want to sell. So which way will the remodeling market shift? Annual spending on home improvements and repairs is expected to remain relatively flat through late 2027, according to the latest Leading Indicator of Remodeling Activity (LIRA) from the Remodeling Futures…