The September 2023 update to the U.S. Size of the Home Improvement Market Forecast is now available to HIRI members.
Overall, the forecasts have decelerated following high growth in 2020 – 2022.
The Mountain and West South Central regions are projected to display the strongest growth in home improvement products sales over the remainder of the forecast period, with sales growing at 0.6% and 0.5% per year, respectively.
The South Atlantic region is projected come in third at 0.4% growth per year.
The East North Central region will have the slowest growth of home improvement products over the forecast horizon declining by 0.2% per year, while the Middle Atlantic will rank eighth with negative growth of 0.1% per year.
Here’s a look at the state by state forecasts for home improvement spending in 2024, separated by consumer and pro customer segments:
HIRI members gain access to the raw data behind infographics like this one, to slice-and-dice the raw data to suit the needs of their own customer insights teams and answer cross-departmental questions about how to take home improvement products to market.
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