Accelerated Growth Forecast for Home Improvement Market
(firmenpresse) - TAMPA, FL -- (Marketwire) -- 03/21/12 -- Building upon the 3.8% growth in 2011, the home improvement market is forecast to grow by 5.0% in 2012. This forecast from the Home Improvement Research Institute represents an increase of one percentage point in both figures from the previous estimate. With this growth, the market for home improvement products is expected to reach $283 billion this year.
This outlook is the result of the mix of some positive and negative factors:
Recent positive economic reports have helped give consumers the confidence to spend on their homes. In particular employment gains have been welcome news for homeowners.
Housing is showing signs of recovery with housing starts up and existing home sales are also anticipated to improve.
Greater growth will occur once there are strong increases in disposable income.
Recent retail sales growth for home improvement products supports this overall direction.
"Having a nice home remains important to American homeowners," says Fred Miller, HIRI's Managing Director. "There is evidence of pent-up demand for projects that have been postponed over the last few years. We expect some of those projects to be done giving a boost to the overall market."
Put into the context of history, it is clear that the home improvement industry is heading in a positive direction.
This forecast and much more will be discussed in detail at the HIRI Spring Conference, Insights and Resources for the Home Improvement Industry. The conference is being held on April 18 in Arlington, VA. Open to both HIRI members and nonmembers, this conference is loaded with information on the industry. More information on the market forecast and the conference can be found at .
(HIRI) is a membership-based, independent, nonprofit organization of manufacturers, retailers, wholesalers and allied organizations in the home improvement industry. It is the leader in independent research on the industry. The membership of HIRI currently represents over 80 of the leading firms in the industry.
Contact:
Frederick Miller
The Home Improvement Research Institute
901 757-5865
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Datum: 21.03.2012 - 13:05 Uhr
Sprache: Deutsch
News-ID 1095241
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Construction
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