The U.S. home-improvement industry is poised for a revival this year as property owners who scrimped and saved during the recession spruce up kitchens and bathrooms.
Spending on remodeling probably will rise 9.2 percent to $125.1 billion in the first quarter from $114.6 billion a year earlier, according to Harvard University’s Joint Center for Housing Studies. A 13 percent increase forecast for April through June would be the largest jump in five years, a report by the Cambridge, Massachusetts-based center shows.
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