“Seeing this slowdown and decline into next year
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Posted On: 10/25/2019 10:27:11 AM
“Seeing this slowdown and decline into next year is certainly worrisome for the economy,”
Home Improvement Retailers Slumping!!!
Home-improvement retailers have proven a bright spot during an otherwise underwhelming stretch for retail stocks, but a popular predictor of remodeling spending suggests tougher times ahead.
Renovation and maintenance spending are forecast to decline over the next year for the first time in a decade, according to the Leading Indicator of Remodeling Activity, which was developed by Harvard University’s Joint Center for Housing Studies. That could be a threat to highflying stocks like Home Depot Inc. and Sherwin-Williams Co., which have shot to record highs this week.
“Seeing this slowdown and decline into next year is certainly worrisome for the economy,” said Abbe Will, associate project director for the Harvard’s Remodeling Futures Program. The index takes into account several economic indicators, including sales of existing homes, housing starts, residential remodeling permits and building-material sales compiled by the U.S. Census Bureau.
Following years of 5% to 7% growth in spending since last decade’s housing crash, Harvard’s model has been predicting slower growth for the past year or so and an outright decline next year for the first time since 2010.
Home Improvement Retailers Slumping!!!
Home-improvement retailers have proven a bright spot during an otherwise underwhelming stretch for retail stocks, but a popular predictor of remodeling spending suggests tougher times ahead.
Renovation and maintenance spending are forecast to decline over the next year for the first time in a decade, according to the Leading Indicator of Remodeling Activity, which was developed by Harvard University’s Joint Center for Housing Studies. That could be a threat to highflying stocks like Home Depot Inc. and Sherwin-Williams Co., which have shot to record highs this week.
“Seeing this slowdown and decline into next year is certainly worrisome for the economy,” said Abbe Will, associate project director for the Harvard’s Remodeling Futures Program. The index takes into account several economic indicators, including sales of existing homes, housing starts, residential remodeling permits and building-material sales compiled by the U.S. Census Bureau.
Following years of 5% to 7% growth in spending since last decade’s housing crash, Harvard’s model has been predicting slower growth for the past year or so and an outright decline next year for the first time since 2010.
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