Remodeling expenditures are projected to increase between 1-13% in 42 of the nation’s 50 major metropolitan areas in 2021, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University (JCHS). After a slowdown induced by the pandemic, large metro areas are expected to experience an average growth in remodeling activity of 5% during the calendar year. According to the projections, the largest remodeling spending gains are projected to occur in more affordable metros in the Sunbelt region, including Oklahoma City, Okla., Tucson, Ariz., Phoenix, Ariz., and San Antonio, Texas. Conversely, remodeling spending growth in several high-cost metro areas, including New York, Washington, D.C., Boston, and San Francisco, is projected to either decrease or increase modestly in 2021.
Included in the JCHS report is an interactive map featuring historical trends in remodeling spending and spending projections for the 50 largest metro markets in the United States. Viewers are also able to download the underlying data behind the historical trends.
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