Home improvement spending rose in 2020 despite mortgage disruptions

Renovation expenditures faced challenges last year, but managed to increase over 2019 and will likely climb further in 2021, according to a report published Thursday by Harvard University’s Joint Center for Housing Studies.

Spending used to maintain or improve owned or rental housing climbed 3.5{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} to an estimated $419 billion