Depending on the location of electronic home system contractors, there still may be challenges with remodeling business. A sluggish economy and housing market will continue to hamper home improvement spending well into next year, according to the Leading Indicator of Remodeling Activity (LIRA) by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, Cambridge, Mass. The remodeling market is expected to stay soft with the LIRA pointing to a modest decline in annual homeowner improvement spending over the next several quarters.
“After pulling through the worst of the downturn in home improvement spending, we appear to be entering another period of softening,” says Eric Belsky, managing director of the Joint Center. “The ups and downs in the economy are being reflected in home improvement activity.”