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Outlook for housing industry momentum in second half of year.
Leading Indicator of Remodeling Activity (LIRA) data indicate that the short-term outlook doesn't offer a clear sense of recovery.
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LIRA projects that spending up just 0.2% by the end of 2011.
After a topsy-turvy decade that saw both new highs and new lows, two recent announcements from the Harvard Joint Center of Housing Studies say remodeling is headed for recovery in 2011.
The LIRA (Leading Indicator of Remodeling Activity) shows that remodeling will continue on the upswing.
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The Leading Indicator of Remodeling Activity (LIRA) shows that remodeling will continue on the upswing, says Kermit Baker, director of the Remodeling Futures Program at Harvard’s Joint Center for Housing Studies.
For the first time since 2006, home improvement spending is on the upswing. Annual growth will be nearly 5% in 2010, and all signs suggest that the positive trend will continue in 2011, according to the latest Leading Indicator of Remodeling Activity.
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Remodeling spending is projected to bottom out, and begin a slow ascent, this year, according to Harvard University's Joint Center for Housing Studies.
Homeowner spending on major remodeling projects is starting to turn a corner and should begin showing year-over-year increases in 2010, Harvard University's Joint Center for Housing Studies says.
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The second-quarter Leading Indicator of Remodeling Activity (LIRA) points to a slowdown in the slowdown. Phones are ringing — but for smaller jobs.