Opposing trends will hold remodeling growth in check
from By Michael J. Berens
Recent first quarter industry reports show signs that the pace of remodeling services growth has begun to taper off. While forecasters do not expect demand to slip into negative territory for the foreseeable future, they do project that, contrary to the robust increases remodelers experienced in 2017 and 2018, growth over the next several years will be more modest. In part, this is because conflicting market forces will constrain demand. According to the National Association of Home Builders (NAHB), year-over-year growth in residential remodeling spending fell from a high of 19% in 2017 to almost half that, 10%, in 2018.
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