Newsletter
Shop
Login
Menü
Subscribe now
Deep insights, facts & figures: Premium information for the home improvement industry.
- Retailers and suppliers: exclusive insights
- Market analyses and country reports
- Trends in the DIY and garden market
- Latest news and archive
TRIAL OFFER
Online subscription
Continue reading now
Already a subscriber?
In 2016, existing home sales in the US reached the highest level seen since the economic downturn of 2008-2009, according to Euromonitor International. Buoyed by the popularity of home improvement shows on HGTV (Home & Garden Television) and other networks, DIY home remodelling and renovation projects remain popular in the US, so the boost in sales of existing homes - which often need more repairs than new homes do - helped keep demand in the home improvement category strong. Many US consumers, however, opt not to perform their own home repairs, and a large community of contractors exists to cater to this demographic.
Bolstered by the strength in existing home sales, home improvement value sales at current prices grew at a healthy rate of 3 per cent in 2016. This actually represents a marginally lower rate of growth than that seen in the review period, however, as a decline in the average selling price of lumber in 2016 - which especially impacted value sales of wooden flooring - served as a check on growth in the overall home improvement category.
Propelled by the rise in existing home sales, value sales of home paint grew by 4 per cent in 2016. Although there are many professional painting services in the US, painting remains one of the more popular DIY home improvement tasks, as even the least handy able-bodied consumers find that painting a room does not exceed their abilities. As a result, per capita consumption of decorative paint in the US increased by 3 per cent in 2016 to 3.7 litres a person.
The home improvement and gardening stores channel continued to dominate home improvement sales in the US, accounting for 72 per cent of value sales in 2016. Many consumers are still sceptical of buying products such as paint, floor covering or power tools online, and home improvement and gardening stores remain the most convenient brick-and-mortar option for these individuals. While online sales grew in 2016, internet retailing still represents only a fraction of the home improvement sales in the US (3 per cent).
Bolstered by the strength in existing home sales, home improvement value sales at current prices grew at a healthy rate of 3 per cent in 2016. This actually represents a marginally lower rate of growth than that seen in the review period, however, as a decline in the average selling price of lumber in 2016 - which especially impacted value sales of wooden flooring - served as a check on growth in the overall home improvement category.
Propelled by the rise in existing home sales, value sales of home paint grew by 4 per cent in 2016. Although there are many professional painting services in the US, painting remains one of the more popular DIY home improvement tasks, as even the least handy able-bodied consumers find that painting a room does not exceed their abilities. As a result, per capita consumption of decorative paint in the US increased by 3 per cent in 2016 to 3.7 litres a person.
The home improvement and gardening stores channel continued to dominate home improvement sales in the US, accounting for 72 per cent of value sales in 2016. Many consumers are still sceptical of buying products such as paint, floor covering or power tools online, and home improvement and gardening stores remain the most convenient brick-and-mortar option for these individuals. While online sales grew in 2016, internet retailing still represents only a fraction of the home improvement sales in the US (3 per cent).
Although home remodelling and renovation activity in the US over the last few years has been robust, rising property prices and interest rates - compounded by the low supply of existing homes in the US - are expected to exert…
Newsletter