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The Home Improvement Research Institute Predicts Continued Growth for Home Improvement Products Market, with Ease in Consumer Spending Through 2026
Data from the recently released market update indicates a return to pre-pandemic market levels as inflation spikes and households complete home improvement projects Home Improvement Research Institute (HIRI) (PRNewsfoto/Home Improvement Research Institute (HIRI)) INDIANAPOLIS, April 28, 2022 /PRNewswire/ — The Home Improvement Research Institute, the nation’s leading resource for market research concerning the home and building products industry, has forecasted consumer spending on home improvement products will steady after two years of extreme demand following the COVID-19 pandemic. Rising inflation, reduced real household income and completed projects led HIRI to forecast that overall consumer market sales will increase by 2.8{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} in 2023 to $382.5 billion. This research was conducted in…