NPD Group presents State of the Industry findings
The economy was the jumping-off point for the State of the Home Improvement Industry webinar held by the NPD Group. And while presenter Mark Delaney said consumers can sense we’re on the cusp of recovery, he said attitudes toward spending varied by age group, with the younger generations being the most confident.
While the housing market has taken some major steps backward in the past months, with both single-family starts and existing-home sales at their lowest points in years, the home improvement industry is still faring better than many of the other industries the NPD tracks.
Delaney said that with the median age of U.S. homes being 36 years, another huge boost to the industry will be the large percentage of unplanned projects, such as repairs and replacements, that will take place over the next 12 months.