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[Getting Graphic] Remodeling Eases As Home Sales Slow

Getting Graphic is a semi-sort-of-irregular collection of our favorite BIG real estate-related images(s).

The slowing of existing home sales is having a dampening effecting on remodeling since the large portion of this occurs at the time of purchase. This is an example of one of the significant ancillary economic effects of a cooling housing market.

Through the second quarter of 2006, homeowner remodeling spending has seen slow growth. According to the Remodeling Activity Indicator (RAI) devised by Harvard’s Joint Center for Housing Studies, homeowners spent an estimated 155 billion dollars on home improvements and repairs over the past four quarters, representing a 2.8% increase compared to the previous four quarters.

Click here for full graphic [Harvard] [1]