Remodeling Becomes Bigger Issue
As the nation’s housing gets older, the remodeling market is reaching record highs to meet the country’s growing housing needs, according to Improving America’s Housing 2019, a new report released from Harvard University’s Joint Center for Housing Studies. Spending on improvements and repairs to owner-occupied and rental properties reached a record high of nearly $425 billion in 2017, according to the newly released report.
Nearly 80 percent of the nation’s housing stock is at least 20 years old. With new-home construction lagging the last few years, more homeowners are remodeling to make their current home still work for them. Read more HERE.