Remodeling Spending Forecast for 2024

Economics
Published

This month’s Remodeling Forecasts, Myths & Trends video, sponsored by Lowe’s Pro, arms remodeling professionals with the knowledge they’ll need to dive into next year’s market with confidence. This installment, “LIRA – Outlook for Residential Remodeling Spending,” focuses on an analysis of the Leading Indicator of Remodeling Activity (LIRA) report and what remodelers can expect for the remainder of 2023 and 2024.

Contributing expert Abbe Will, senior research associate and associate project director of the Remodeling Futures Program at the Harvard Joint Center for Housing Studies, guides viewers through some of the LIRA’s key elements and explains how each metric can be used to predict what lies ahead for the remodeling and repair industry:

  • Challenges that face the remodeling industry in the coming year, such as high mortgage rates, declining home sales and the higher costs of labor and materials.
  • The numerous advantages expected to support the continued expansion of remodeling and repair spending, including record levels of home equity, the continued aging of housing stock and a permanently higher percentage of people working from home.
  • The relationship between the remodeling industry and the new home building industry, and how trends in new home construction can be used to make predictions about trends in remodeling.

Will, along with moderator Vince Butler, will field questions about the LIRA and break down her analysis of key points during a companion Shop Talk on Thursday, Nov. 2, at 11 a.m. ET. Register now.

Subscribe to NAHB’s Remodeling Forecasts, Myths & Trends video series to watch Will’s full presentation and to access the video series archive.

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Awards

Oct 03, 2025

NAHB Awards Deadline Extended to Oct. 20

Interested applicants for NAHB’s prestigious award programs now have additional time to submit top projects and individuals for consideration. Don't miss your chance - apply by Monday, Oct. 20.

Sponsored Content

Oct 03, 2025

Fast Money, Fewer Headaches

Every week lost to underwriting is a week you’re not building, selling, or scaling. Delays push projects out of prime seasons, tighten cash flow, and leave crews idle. And when banks already move at their own pace, builders who aren’t prepared can get stuck at the back of the line.

View all

Latest Economic News

Economics

Oct 03, 2025

Supply-Side Cost Pressures Drove Housing as Inflation Leader in 2024

Though the rate of inflation peaked in June 2022, consumer prices continued to increase throughout 2023 and 2024 as inflation drove further price growth, according to 2024 CPI review from the Bureau of Labor Statistics.

Economics

Oct 02, 2025

Square Foot Prices Moderate in 2024

Median square foot prices for new single-family detached (SFD) homes started in 2024 grew modestly, according to NAHB’s analysis of the latest Survey of Construction (SOC) data. For custom, or contractor-built, homes, the median price was $166 per square foot of floor space, up slightly from $162 in 2023.

Economics

Oct 02, 2025

17% of NAHB Builders Built Age-Restricted Housing in 2024

Only 17% of NAHB builder members build age-restricted housing for people age 55 or older, according to 2024 Member Census. This is up two percentage points from the previous year. However, this share has remained within a narrow band (15%-17%) since the question was added to the member census in 2009.