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Gain Valuable Research-Based Insights from Home Improvement Thought Leaders

Monday, June 19, 2017   (0 Comments)
Posted by: Pam Heidel

 

 

The home improvement industry ebbs and flows. But now, 10 years after the start of the economic downturn, it’s on a steady upward trajectory. This September 19 and 20 at the Home Improvement Research Institute (HIRI) Insights Conference in Chicago, hear from industry experts on research-based home improvement insights, upcoming trends and what your customers want.

 

What to Expect

 

The two-day conference will feature in-depth discussions on forces driving the current market and potential trends that could affect it. Speakers include leading home improvement industry experts like HomeAdvisor Chief Economist Brad Hunter, who will explore the effects of rising prices in the stock market and general economic growth.

 

The Home Improvement Biz: 2017 Surprises and the 2018 Forecast

 

On the surface, home improvement is growing, growing, growing. Hunter said these three largely under-the-radar trends are driving that growth:

  • Consumers are undertaking more discretionary projects in addition to must-do projects.
  • Large-scale projects are more relevant. Many homeowners are remodeling an entire room rather than making small changes.  
  • Mobility-related modifications are taking hold as the population ages.

 

The home improvement industry is always at the mercy of homeowner equity, but Hunter said this key factor has grown exponentially over the past five years.

 

“As people have seen their home go up in value, several things have followed,” Hunter said. “Number one, people feel wealthier and more inclined to open their pocketbook. Number two, people have easier access to home improvement loans and lines of credit.”

 

With that, homeowners who felt underwater with their mortgage during the economic downturn now feel like they’re able to sell their homes.

 

“When people can sell their home and move, they’re more likely to increase the new home’s curb appeal and spruce it up,” Hunter said. “Also, they spend money fixing things on their current home for the inspection before the sale.”

 

 

Issues Shaping the Outlook for the Remodeling Industry

 

Kermit Baker, director of the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, will present primary data from the recent, biennial Demographic Change and the Remodeling Outlook. Baker will explore:

  • Demographic homeownership trends
  • Housing affordability
  • Aging mobility trends
  • Labor shortages in the construction and home improvement industries
  • Rental trends
  • Home improvement niches like home automation, healthy home and sustainability

 

Remodeling Trends Among Professionals

 

Grant Farnsworth of The Farnsworth Group will present on remodeling trends among professionals including exclusive data from the Farnsworth Index and HIRI. The data will dive into yearly revenues, size of projects and number of projects. Farnsworth will also explore professional sentiments toward the labor pool, product availability, product pricing and other relevant points.

 

“What do trade professionals see on the horizon and picking up some steam for the next few years?” Farnsworth asked. “It’s important to be more forward-thinking rather than reactive. Anticipating remodeling trends tells us what we should be focusing on as an industry.”

 

Learn more about the upcoming conference, see a full list of speakers and topics and reserve your spot. REGISTER NOW

 


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