...Economy, Housing Recovery to Boost Remodeling: Home improvement spending is expected to continue its steady increase during 2016, driven by an expanding U.S. economy, a continued recovery in housing and higher home values realized over the past few years. Fitch Ratings projects home improvement spending will increase 4.5% in 2015 and 2016. Continued Housing Recovery: Housing metrics improved during 2015, and the recovery is expected to continue in 2016. Fitch expects housing starts will increase 9.6% in 2016, while new home sales are expected to grow 14.6%. Existing home sales should advance midsingle digits in 2016. Home improvement spending should continue to benefit from increased housing turnover reported in 2015 and the expected sustained growth for 2016. Higher Home Values: National home price indices have been broadly increasing over the past few years. Homeowners are realizing higher home equities, which could further encourage home improvement spending, particularly for discretionary...
