March 2013 Home Improvement Market Sales Forecast increased 5.4% in 2012 with slightly slower growth of 4.3% in 2013

The March, 2013 IHS Global Insight/HIRI Home Improvement Products Market Forecast for 2012 total home improvement product sales is slightly ahead of our September 2012 forecast at +5.4% to $275.6 billion. Our product sales growth forecast in 2013 is little changed from our September report.  We expect slower growth of the home improvement product market in nominal dollars, with total sales increasing 4.3% to $287.3 billion. We expect stronger growth of home improvement sales averaging 5.9% in 2014-2015 with a deceleration in the following two years as the housing market cycle runs its course.