Report: More Homeowners Investing in Home Improvement Projects
Kerry Donahue shares details of the "Improving America's Housing 2019" report, released this week by the Harvard Joint Center for Housing Studies.
The report finds increasing investments in home improvement projects by homeowners. According to Donahue, "as homebuilding struggled to meet the nation’s growing housing needs, spending on improvements and repairs to both owner-occupied and rental properties hit a record of nearly $425 billion in 2017."
"The steady uptick in house prices in many markets and the aging population are also driving increased spending on home improvements and repairs," adds Donahue.
The article digs into more detail about what the home improvement trend means for the U.S. housing market and the demographic groups of the country—now and into the future.