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{911ea05452e114f1778c76ca86733b6032c246f8f651bb1f01d12abf04b54efb} to an estimated $419 billion