The home remodeling market continues to gain ground through the end of the year, and is expected to continue double digit growth through early 2014, according to the Joint Center for Housing Studies of Harvard University's Leading Indicator of Remodeling Activity.

The report, released by Harvard's Remodeling Future Program, noted that while spending is expected to continue at a double digit pace for the next several months, a slowdown is expected by mid 2014. The Joint Center's Managing Director, Eric Belsky said that the softening in the homebuilding industry, combined with increasing financial costs is expected to slightly slow home improvement spending by mid year. However, he added, "even with this projected tapering, remodeling activity should remain at healthy levels."

Near term, the Joint Center emphasized that homeowner spending on improvements is expected to see its highest growth since the height of the housing boom.