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Lisa Corelli

Lisa Corelli
Your Choice Real Estate NW

253-677-4844

Contact Me

Sales & Market

Renovation spending will slow in 2020 after record-setting year, Harvard report says

While renovation spending rose to a record at the end of June and will reach a new high by the end of 2019, a slowdown is on the horizon. Americans spent $322 billion on remodeling and home repairs during the 12 months ending in June, a 6.8% jump from a year earlier, according to Harvard University’s Joint Center for Housing Studies. However, 2020 will be a different story.
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Foreign buyers flee the U.S. housing market, led by Chinese and British

China’s currency controls, as well as international tensions between the U.S. and a slew of countries traditionally thought of as our allies, are putting a crimp on America’s real estate market by thwarting demand from foreign homebuyers. Purchases by Chinese people, the biggest share of foreign purchasers, plummeted 56% in the 12 months ended in March, while British home purchases tumbled 48%.
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Lisa Corelli | 253-677-4844 | Contact Me
Puyallup, WA 98375
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