No Slowdown for Remodeling

Printer-friendly versionSend by email

New home builders may be concerned about rising interest rates and slow home sales, but remodelers can still breathe easy knowing that the bottom won't drop out of their business in the very near future. So say experts at the Home Improvement Research Institute, which is predicting growth near 2005 levels for the rest of 2006.

August 01, 2006

Sidebars:
EPA Eyes New Lead Research
NARI Assisting in Gulf
The Poll

New home builders may be concerned about rising interest rates and slow home sales, but remodelers can still breathe easy knowing that the bottom won't drop out of their business in the very near future.

So say experts at the Home Improvement Research Institute, which is predicting growth near 2005 levels for the rest of 2006.

Contrary to some doom-and-gloom predictions, the overall home improvement market remains strong, which includes jobs contracted to professionals as well as do-it-yourself projects.

Sales are expected to increase to $312 billion, an 8.8 percent growth, for the entire year 2006. Total sales in 2005 is estimated to have reached a record $287 billion, which is up 9.2 percent over the previous year.

"While we anticipate a slowing of the growth rate in the second half, it should still be another excellent year for this industry," says HIRI Managing Director Fred Miller.

Growth of building product sales to professional contractors is estimated to reach $80.7 billion this year, a growth rate of 8.1 percent.

HIRI projects an average of 5 percent total market growth for 2007–2010, which is slightly below the pace of the past five years but well ahead of the rate of overall economic growth.

 

EPA Eyes New Lead Research

Strong opposition by the NAHB Remodelors Council and NARI to the EPA's proposed lead-safe work practices rule has caused the EPA to consider additional research.

NAHB and NARI raised concerns about the rule, including the costs of "white glove" cleaning verification and liability insurance. Getting insurance would be difficult because most policies do not cover lead liability. The rule "is too economically onerous for the benefits that are claimed," says NAHB, and "there is no scientific evidence showing that remodeling activities raise blood lead levels."


NARI Assisting in Gulf

Members of the Bucks-Mont, Penn., Chapter of NARI will travel to Mississippi in mid-August to assist in rebuilding a town devastated by Hurricane Katrina.

The group is looking for two-person volunteer teams from anywhere in the country to join the effort, which is planned to have short overlapping schedules to minimize time away from your business. Contact Bob DuBree at (215)661-8581.


The Poll

  1. Plumbing
  2. Electrical
  3. Painting
  4. Drywall
  5. Siding
  6. Roofing
  7. HVAC
  8. Flooring

To cast your vote and view the results as they are tabulated, visit www.ProRemodeler.com.

Comments on: "No Slowdown for Remodeling"

July 2014

This Month in Professional Remodeler

Top 100 Products

Yoho's 8 Keys to Canvassing

Outdoor Living

DIGITAL EDITION
Products

All fixtures provide soft, quiet water delivery, featuring a 1.5 gpm laminar flow.

Features

What do you and your team need to focus on to achieve success?