Harvard JCHS report predicts uptick in home improvements this year

Home renovations are expected to hit 10-year high but may be hindered by labor shortages and financing concerns
  • A new report shows homeowners are expected to increase their home renovation projects this year.
  • The question remains whether labor availability and consumer financing will be equipped to meet this increased demand.
  • Agents would be keen to keep an eye on how this trend may affect the listings in their area.

Thanks to the continued housing market recovery, homeowners are expected to increase their home renovation projects, according to a report issued this week by Harvard University’s Joint Center for Housing Studies. JCHS Managing Director Chris Herbert weighs in on what this means for many markets across the country.