Remodeling in 2011? More Silver Lining than Dark Clouds; More Pro Work than DIY
Following a
three-year downturn, a sustainable recovery for the remodeling industry is
expected this year, according to the Leading Indicator of Remodeling Activity
(LIRA) released this mid-January by the Remodeling Futures Program at the
for Housing Studies of Harvard University. The LIRA projects annual growth in
home improvement spending of 6.5 percent by the third quarter of 2011.
Professional installation now leads the recovery, as compared to sweat equity
do-it-yourself (DIY) during the hard times; and there is greater customer
emphasis on energy-sensitive projects such as home energy management and green
home efforts.