19 Apr '17, 12pm
Remodeling market niches #energyefficiency, healthy homes "likely to see significant growth"
Homeowner spending on remodeling is expected to see healthy growth through 2025, according to Demographic Change and the Remodeling Outlook , the latest biennial report in the Improving America’s Housing series released in February by the Harvard Joint Center for Housing Studies . Demographically based projections suggest that older owners will account for the majority of spending gains over the coming years as they adapt their homes to changing accessibility needs. Although slower to move into homeownership than previous generations, millennials are poised to enter the remodeling market in greater force, buying up older, more affordable homes in need of renovations. The residential remodeling market includes spending on improvements and repairs by both homeowners and rental property owners, and reached an all-time high of $340 billion in 2015, surpassing the prior peak in...