Posts from October 20th, 2024
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20
America's Renovation Boom Is Leveling Off—but Still Going Strong
Americans are still renovating up a storm—although not as much as they did during the COVID-19 pandemic.
Spending on home improvements and maintenance is expected to grow from its current $472 billion to $477 billion by the third quarter, a modest increase of 1.2%, according to the latest Leading Indicator of Remodeling Activity report released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
To develop its projections, the LIRA team examines various indicators, including building materials sales and the number of remodeling permits issued.
The 1.2% increase is a sign that...
20
La Nina Is Coming: How To Prepare and Protect Your House—Based on Where You Live
Weather: It's the pinnacle of idle chatter—a topic to fill time when talking with folks we have little in common with.
But the weather is much more than watercooler talk about the temperature outside right now. And phenomena like El Niño and La Niña merit a much deeper discussion. These climate patterns affect the economy—and, of course, real estate.
As of today, there's a 60% chance that a weak La Niña will develop as we head into the winter months. La Niña occurs when sea surface temperatures in the central and eastern Pacific Ocean drop to below-average levels for an extended amount of time.
If it does come to fruition, the pattern will likely affect temperatures and precipitation across the country.
But how will a potential La Niña affect you...
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