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March 2, 2015

HIRI/IHS Global Insight for 2014 up 4.0%, Expecting 5.7% sales growth in 2015

Total home improvement products sales increased 4.0% in 2014 to $303 billion. The Professional Market increased 3.4% in 2014 over 2013 and the Consumer Market will see a sales increase of 4.3%.

We continue to expect home improvement product sales growth to accelerate over the next two years with 2015 forecasted to increase 5.7% over 2014.

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The Home Improvement Research Institute (HIRI) is a membership based, independent, not-for-profit organization of manufacturers, retailers, wholesalers and allied organizations in the home improvement industry. Its mission is to be recognized as the primary authority for effective, useful information about home improvement products and services in North America.





May is Home Improvement Month

According to HIRI’s 2Q 2015 Sentiment Tracking report, 73.4% of homeowners in 2Q 2015 reported planning one or more projects in the next three months compared to 74.5% in 2Q 2014. Overall in 2Q 2015, there were an average of 4.42 projects areas planned among those planning projects within the next three months.  This has decreased 3.1% compared to the year ago average of 4.56. The top three projects planned in the next three months are lawn, deck/patio/porch, and permanent planting/shrubs.

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