The Home Improvement Industry on an Upswing- Harvard Study Reveals
In these times of recovery the home improvement industry in the US is rising steadily even as the home construction market is down in the dumps.
According to a study by The Joint Center for Housing Studies at Harvard University, the home improvement industry has experienced an upswing in 2010 and is poised for further growth. In the coming years home improvement expenses are expected to increase by 3.5 percent per year due to inflation. Although the growth of home improvements is lower than the housing boom period, it is a strong recovery since the economic crisis.
The home improvement industry saw a double digit decline since 2007. However, market basics like number of houses in housing stock, the age of homes and income gains of homeowners involved in home improvement show that the home improvement market is now on a path of growth.
