Industry Analysis & Industry Trends
The Remodeling industry's foundation shook as the housing bubble burst, with several factors contributing to discourage consumers from spending on home improvements. During the five years to 2020, industry recovery will be driven by improvements in employment and per capita disposable income. Home prices are expected to continue rising, facilitating growth in demand for industry services because homeowners often leverage the value of their homes through loans to fund remodeling projects... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
IBISWorld estimates that the Remodeling industry is in the mature phase of its life cycle due to the industry's services being fully accepted by the market and tied to US construction markets. During the 10 years to 2020, industry value added (IVA), which measures the industry's contribution to the economy, is expected to rise at an average annual rate of about 5.3%, while US GDP is forecast to increase an average of 2.5% annually over this same period. Rapid IVA growth has been accomplished by the strong rebound of US construction markets, which has allowed this industry to outpace US GDP growth despite being a mature industry.
After the housing bubble burst, property values plummeted and unemployment rose, which caused demand for remodeling activities to collapse... purchase to read more