Home product sales on the rise

You’ve heard of the roaring twenties. Now get ready for the moderately growing teens.



The latest “Home Improvement Products Market Forecast Update” calls for an average growth rate of 4.4% per year through 2019.



Prepared by IHS Economics, the report is one of the latest research projects from the Home Improvement Research Institute. As the infographic on the opposite page shows, not all regions of the company will reap sales growth to the same extent, but they are all heading in a positive direction.



Leading the way in 2014 were the Pacific, up 5.8% to $50.6 billion in home improvement product sales; and the West South Central, up 5.5% to $33.7 billion.



The report also established a benchmark for all home improvement product sales in 2015: an anticipated $318.4 billion.



From the executive summary, the positive outlook for the home improvement sector is based on gains in employment and income. And although home building and existing-home sales haven’t accelerated as much as bullish forecasters predicted at the beginning of the year, both remain strong. IHS is projecting 7.8% gains in sales, and 11.5% gains in starts for 2015.



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