Who's good with numbers and can predict the future? Harvard University's Joint Center for Housing Studies, that's who.
The U.S. Census Bureau shows that the home improvement market is on a upward and downward slope: 5.6% last year, 9.9% this year, and 7% next year.
Apparently, this is resulting from sluggish home sales and an economy that's recovering at a slower rate than expected, according to Chris Herbert, the Joint Center's research director.
The good news? The industry is still growing; just not as fast. Everything in moderation, especially with housing, is a good thing. The ride should be fine, but if you're in the remodeling industry, buckle up, just in case.
· Harvard survey: Remodeling spending to slow heading into 2015 [Boston Business Journal]