Getting Graphic is a semi-sort-of-irregular collection of our favorite BIG real estate-related chart(s).
Harvard’s Joint Center for Housing Studies released its third quarter remodeling index and not surprisingly, the index showed a slowing rate of increase of spending by homeowners on remodeling.
“The softening housing market, including a reduced volume of home sales, has contributed to slowing expenditures on home improvements by homeowners. As sales continue to fall, remodeling expenditures will continue to slump,” states Nicolas P. Retsinas, director of the Joint Center for Housing Studies.
This is logical given generally higher interest rates from a year ago, slowing sales volume and a cooling economy.
Some of the past rising trends in remodeling expenditure seems to be correlated with installing more of the same things as houses got bigger, such as the number of bathrooms [KBD].
Tags: Harvard JCHS