Projections Strong For Home Improvement Industry
Particularly in today’s “new” economy, people often ask me how the home improvement industry is doing and what I foresee for the future. From my own company’s perspective, I can tell them that we have been blessed to stay quite busy and growing even during the past 12 months. While I know that some segments of the home improvement industry have been negatively impacted by the economy, roofing has generally kept right on going. That tends to be the difference between “luxury” like new windows or siding and “essential” items like roofing.
But what I think is most exciting is the prospect of incredible growth in the home improvement industry over the next few years. As a result of changes in the economy, more and more homeowners will be remaining in their existing homes rather than building new. The end result of that will be a huge boom in the remodeling and improving of those existing homes.
Products like durable, beautiful, and energy efficient metal roofing will do very well as a result. And so will other home improvement items.
As homeowners stay in their current homes, they will want to upgrade the look, beauty, value and functionality of those homes. While many of us have seen serious damage done to our cash investment accounts, and we’ve seen some loss of home value, the fact is that in most markets your home is one of the safest and most sure places to invest your money for long term return. And, in comparison to money sitting in an account somewhere, you actually get to enjoy money invested in your home!
So, when someone asks about the state of our industry, I am pleased to tell them that the home improvement industry is doing well — segments like metal roofing are even still growing — but that I believe the industry is poised for huge growth unlike anything we have ever seen before.