Spending on home remodeling is expected to hit new highs this year, and according to RBC Capital Markets analyst Bob Wetenhall there's still time for investors to capitalize on it.
"This is a long, steady vibrant theme that's going to remain on a very stable track forward. So we have visibility. We understand what is going on. This is not something … where we're going to go off the tracks," Wetenhall said in an interview with CNBC's "Power Lunch" on Monday.
According to John Burns Real Estate Consulting, spending on home remodeling is expected to hit $304 billion this year, an all-time high.
Of that, owner remodeling will be $220 billion and rental remodeling will be $84 billion. Big project renovations of $5,000 or more will total $133 billion and $159 billion will be spent on smaller project remodels, the firm predicts.