An Improved Method for Estimating Homeowner Improvement and Repair Activity Through Revisions to the Remodeling Activity Indicator

W04-4: Since 1998 the Joint Center for Housing Studies at Harvard University, through its Remodeling Activity Indicator (RAI), has been releasing quarterly estimates of the U.S. home improvement and maintenance activity undertaken by homeowners. The purpose of this indicator is to anticipate trends in the U.S. Commerce Department’s future releases of it quarterly “Expenditures for Residential Improvements and Repairs” (C-50) reports. Due to unusually long delays in the release of this indicator and the typical volatility of the data, the Joint Center developed this indicator to support industry and academic analysis of trends in this important market…