Spending on home renovations slows, but high remodeling costs mean little relief in sight for buyers [Yahoo! Finance Canada]
The Real Brokerage, Inc. - Common Shares (REAX)
Company Research
Source: Yahoo! Finance Canada
The home improvement spree got particularly heated early in the pandemic, when Americans invested to make their homes better suited for remote work and learning. But the home improvement frenzy appears to be cooling. Harvard University's Joint Center for Housing Studies' latest leading indicator of remodeling activity, or LIRA, suggests homeowner spending on renovations and repairs will fall to $449 billion this year. That would represent a roughly 7% drop from 2023. Spending on home remodeling was down 1.2% in the first quarter from a year earlier — the first annual decline in more than a decade. Historically, annual growth in home improvement spending has averaged 5%. ADVERTISEMENT Many factors are contributing to the slowdown, including elevated interest rates, stubbornly high inflation and a national home sales slump. Home sales are one of the biggest drivers of spending, with homebuyers typically investing most heavily in upgrades or repairs in the first three years afte
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REAX
Earnings
- 5/7/24 - Miss
REAX
Sec Filings
- 5/31/24 - Form 144
- 5/28/24 - Form 144
- 5/28/24 - Form 144
- REAX's page on the SEC website