Construction spending in the U.S. unexpectedly fell in July for the first time in four months as a plunge in home-improvement outlays overshadowed gains in homebuilding.
With home sales picking up and contractors seeing more positive business conditions in the future, remodeling activity in the U.S. is in a position to see accelerated growth by the end of this year and into 2013, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.