LAS VEGAS — Remodeling activity by U.S. homeowners, which has fallen more than 30 percent from its peak in 2007, is set to pick up again this year as the recession loosens its grip and home sales continue to rebound, according to a recently released remodeling-market indicator.
Homeowners are projected to spend just under $104 billion at an annualized rate on home improvements in the first quarter, down from $110 billion in the fourth quarter and $118 billion in the first quarter of 2009. But activity is expected to rise to $107.7 billion in the second quarter and $110.9 billion in the third quarter, according to the Leading Indicator of Remodeling Activity calculated by the Remodeling Futures Program at Harvard University’s Joint Center for Housing Studies. Steve Kerch, MarketWatch
