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2017 to be another explosive year for home improvement [Video]

Posted on Thursday, January 19, 2017 at 3:21:04 PM

The home improvement market boomed in 2016, with some of the highest levels of investments flooding into upgrades, repairs and more across the residential real estate market. Now, a new study posits that this growth is just the beginning, and there is plenty more to come. 

Harvard University's Joint Center for Housing Studies regularly releases research through its Remodeling Futures Program called the Leading Indicator of Remodeling Activity. The one it released for January called for $317 billion to be spent on home improvement projects in the United States this year, which would represent a 6.7 percent increase from the levels last year. Keep in mind that LIRA recorded a 6.9 percent rise in home improvement spending last year, showing just how healthy this market has become. 

Home improvement financing programs are often necessary for bigger undertakings, and right now is a great time to apply given competitive rates and easier access to credit compared to other years. Contact your local bank when you need a home improvement loan, and decide with an agent which program best suits your needs and objectives.