What Does the "Remodeling Boom" Mean for the Chicagoland Housing Market?
There's no question that the nation has been experiencing a boom in home remodeling over the past two years. According to the Joint Center for Housing Studies of Harvard University's Leading Indicator of Remodeling Activity, the nation has been experiencing red-hot growth in remodeling activity that is not expected to ease until the end of 2022 or beginning of 2023. Among midwesterners, more than half of homeowners report plans to take on some kind of home renovation project. This remodeling boom has been driven by a number of factors, and has continued even as inflation and supply chain shortages have driven construction costs to unprecedented levels. And although the unprecedented pace of renovations is expected to slow, renovations are expected to remain popular among homeowners.
With this trend continuing, what do homeowners and buyers need to know about the renovation boom and its effects on the Chicagoland housing market?



