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Home improvement spending expected to hit 4.5 percent in 2016

from Woodworking Network

Home improvement spending is in line for another steady increase this year, according to Fitch Ratings in a new report. With the U.S. economy continuing to strengthen and home values improving, Fitch projects home improvement spending will increase 4.5 percent in 2016. The housing recovery is expected to continue this year, and the increased housing turnover should bode well for home improvement spending. "Homeowners will typically remodel when buying a home to either fix it up or customize it to their tastes," said Director Robert Rulla. "Potential home sellers also tend to remodel to prepare their homes for sale." more

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