Retail Observer

RETAILOBSERVER.COM MARCH 2014 30 • The interactive Build a Perlick section, which allows users to configure a Perlick just like the pros do, choosing size, variation and door styles to create the refrigerated cabinet to meet their storage and serving needs • Specific product detail pages including essential product informa- tion, specifications, technical and sales literature, and Energy Guides • An FAQ section to answer common questions • A Literature Gallery that makes it simple to access and download PDF versions of the Design Guide and other marketing and informational materials • A Dealer Locator that finds Perlick dealers by ZIP code or state and provides directions to their locations Perlick's new site highlights the recently launched Signature Series Outdoor 24" Dual-Zone undercounter refrigerators: The industry's first outdoor 24" units to feature two independently controlled temperature zones within the same unit. The new line includes the Outdoor 24" Dual-Zone Refrigerator/Freezer Drawers, the Outdoor 24" Dual-Zone Refrigerator/Wine Reserve, and the Outdoor 24" Dual-Zone Wine Reserve – each unit is UL-listed for outdoor use, including units configured with glass doors. Visit the site at www.perlick.com. DOUBLE DIGIT GROWTH IN REMODELING SPENDING EXPECTED THROUGH MID-YEAR The home remodeling market should see strong growth in 2014, according to Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The double-digit gains in annual home improvement spending projected for the first half of the year should moderate some to just under 10 percent by the third quarter. "The ongoing growth that we've seen in home prices, housing starts, and existing home sales is also being reflected in home improvement activity," says Eric S. Belsky, managing director of the Joint Center. "As owners gain more confidence in the housing market, they are likely to undertake home improvements that they have deferred." "However, the strong growth for this cycle may start to ebb a bit beginning around midyear," says Kermit Baker, director of the Remodeling Futures Program at the Joint Center. "By that time, we'll be approaching the pre-recessionary levels of spending, and with borrowing costs starting to creep back up, growth rates are likely to slow some." The Leading Indicator of Remodeling Activity (LIRA) is designed to estimate national homeowner spending on improvements for the current quarter and subsequent three quarters. The indicator, measured as an annual rate-of-change of its components, provides a short-term outlook of homeowner remodeling activity and is intended to help identify future turning points in the business cycle of the home improvement industry. The development of the LIRA is detailed in "Developing a Leading Indicator for the Remodeling Industry" (JCHS Research Note N07-1). In July 2008, the LIRA was re-benchmarked due to changes in the underlying reference series. These changes are explained in "Addendum to Research Note N07-1: Re-Benchmarking the Leading Indicator of Remodeling Activity" (JCHS Research Note N08-1). The LIRA is released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University in the third week after each quarter's closing. The next LIRA release date is April 17, 2014. The Remodeling Futures Program, initiated by the Joint Center for Housing Studies in 1995, is a comprehensive study of the factors influencing the growth and changing characteristics of housing renovation and repair activity in the United States. The Program seeks to produce a better understanding of the home improvement industry and its relationship to the broader residential construction industry. The Harvard Joint Center for Housing Studies advances under- standing of housing issues and informs policy. Through its research, education, and public outreach programs, the center helps leaders in government, business, and the civic sectors make decisions that effectively address the needs of cities and communities. Through graduate and executive courses, as well as fellowships and internship opportunities, the Joint Center also trains and inspires the next generation of housing leaders. For more information, please visit www.jchs.harvard.edu. continued from page 26 I N D U S T R Y [ N E W S ] RO

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