Gaining Ground: Remodeling Industry Report (Part I)

A few years back, home renovation professionals received a big hit when the economic recession caused business to slowly but steadily decrease. In recent years, however, the home improvement industry has been making a great comeback.

image 1

Home Improvement Report

Houzz, an online community for architects, interior designers, decorators, home re modelers, as well as for homeowners, has found a way to gauge just how much the industry has improved. They developed the Renovation Barometer, a simple method that tracks changes—including increases and decreases— in business activities throughout the year.

Houzz gets all the data by having professionals respond to a survey that will indicate whether their operations—measured by number of inquiries, number of new projects/orders, and average size of new projects/orders—improved, worsened, or stayed about the same in any given quarter.

According to Houzz’s most recent report, this year started out with a bang for many businesses across the country. The Renovation Barometer showed high readings across all industry groups, including architects, interior designers, design-build firms, and general contractors/re modelers.

Optimistic Projections

The report showed that in the first quarter of this year alone, more home improvement professionals have reported quarter-over-quarter increases business activities. For instance, readings for specialty building/renovation companies—including those who install entry doors in Orange County, CA—rose from 68 in the last quarter of 2014 to 71 in the first quarter of 2015. The reading is expected to hit 80 during the 2nd quarter of this year.

Many key players in the home improvement industry are confident that business activities will to see steady growth for the rest of the year. At Renewal by Andersen® of Orange County, we feel very much the same. We see it in the way more homeowners are now trusting us to get their windows and entry doors in Orange County replaced.

Find out how we can address your home improvement wants and needs in part 2 <> of this blog series. Or, you could give us a call at (888) 266-7127. Request a free estimate of our services while you’re at it.