Leading Indicator of Remodeling Activity

Harvard University’s Joint Center for Housing Studies puts out a report each quarter to estimate future remodeling activity. You probably can already guess that the news is not good. The Leading Indicator of Remodeling Activity, otherwise known as LIRA, is expected to go down about 12% over the next year.

Naturally, as the economy weakens, home prices continue to fall and people lose or are afraid they will lose their jobs, they tighten their belts and reduce spending, typically on things like home improvement projects.

So, what should you do?

Don’t stick your head in the sand and hope it will all be over soon.

As I’ve said, continue to market your company. Find the customers who do want to remodel. Return phone calls. Show up to appointments on time. Treat your customers well. And most importantly, stay positive.

What are you doing in your company right now to weather this downturn? Share with the rest of us.

Annette

P.S. And go 'Skins!!