Closer inspection: The housing market recovery will lift the industry out of its slump
IBISWorld’s Building Inspectors market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.
Industry Statistics & Market Size
Annual Growth 08-13
Annual Growth 13-18
Industry Analysis & Industry Trends
Keeping in check
Demand for building inspection services will get a boost from the economic recovery over the next five years. While the weak housing market has hit industry businesses hard, the revival of housing starts and rising number of existing home sales will contribute to growth. Mortgage lending rates will continue to remain tight and hamper revenue; however, the industry is poised for a recovery... purchase to read more
Industry Report - Industry Analysis Chapter
Following major losses during the recession, the Buildings Inspectors industry is in the midst of recovery. Participants in the industry typically inspect structural elements of a building, evaluate building component systems and assess a structure's compliance with building codes and regulations. Most of the industry's clients are homebuyers who hire inspectors to evaluate a house for structural or regulatory issues before making a purchase. Inspectors are also hired during residential and commercial building construction in order to ensure that the structure being built is sound and in compliance with the law. During the housing market collapse and subsequent recession, building inspectors were heavily affected... purchase to read more
What is the Building Inspectors Industry?
This industry includes companies that primarily perform inspections on buildings. When inspecting a building, all aspects of the structure and component systems are evaluated, and a report is prepared on the physical condition of the property. These reports are written for buyers and/or others involved in real estate transactions. Building inspection bureaus and companies that carry out home inspection services are also included in this industry.
Home inspection servicesCommercial building inspection servicesSpecific element inspection servicesNew home construction inspection services
Inspecting and reporting on the structural attributes of a buildingReporting on and evaluating the component systems of a building (electrical, fire, roofing and plumbing)Assessing compliance with building, electrical, plumbing and fire codesEvaluating building plans and permitsStudying and assessing the soil composition and attributes of where the building is locatedReviewing and approving plans that meet building codes, local ordinances, and zoning regulationsIssuing violation notices and stop-work orders until building in violation is compliantKeeping daily logs, including photographs taken during inspection