Between the rise in DIY, the rental housing markets, and remodeling trends, 2019 looks like a promising year for the industry, and if these trends continue, some say it could be one of the best years yet.
With home prices increasing, new construction harder to find in some areas of the country, and homeowners aging in place, people are simply staying put and remodeling. “With the existing house stock averaging 38 years old, much of the inventory is in need of updating,” noted Mark Boud, senior vice president and chief economist at Hanley Wood/Metrostudy.
The Home Improvement Research Institute (HIRI) predicts that the home improvement and remodeling trends will continue steadily into at least 2021.With less and less real estate available, more homeowners are, instead of moving, staying put and remodeling their homes, which is great news for the home improvement industry!
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