If the state of the home improvement products category matters to you and your brand, it’s important to consider a variety of factors. For example, while the consumer (or the person choosing to take on a home improvement project) is a key stakeholder, the professional contractor hired to do the job is equally critical. That’s why the Home Improvement Research Institute teamed up with The Farnsworth Group to track changing sentiments among professionals in the home improvement business.
In our most recently released we found that COVID-19 concerns and material availability were the two most prominent pain points affecting pros this January. However, some positive factors in the market are keeping pros feeling safe and secure for the time being.
Nearly half of professionals dealt with job delays throughout the first month of 2022, up to 49% from the relatively steady rate of 35% observed since the end of last summer. The pandemic is the main culprit for the increase, as other reported causes have remained constant during the same timeframe.
To add to the above woes, material shortages are believed not to improve anytime soon. In fact, 44% of pros reported “severe” or “moderate” material shortages, up from 36% one month ago. Lumber and building materials remain the toughest product categories when it comes to supply chain issues — and the length of material delays is rising again, with 11% claiming delays of more than a month.
On the bright side, although scarcity has caused prices to rise, costs have not presented any new challenges to those who are passing additional price increases to their customers. And, with the demand for contractors so high, most pros do not find themselves in immediate risk of losing jobs due to price increases.
Our Pro Tracker will continually relay contractor sentiment from the field every month. Join HIRI to get instant access to the full reports as they are released.
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