Housing scholars at Harvard have good news and so-so news.
The good news: Home remodeling should remain strong through most of the year but …
Sluggishness in the housing market and specifically in home sales may result in a deceleration of home improvement spending from double-digit annual growth through the third quarter to a year-over-year gain in the high single digits by the end of the year.
It’s not clear why sales will get more sluggish than they already are, at least in Massachusetts. One suspects the usual culprit is at work again: Lack of inventory. The fewer homes for sale, the fewer homes that need remodeling before or after a sale.