HIRI Lowers 2025 Home Improvement Market Outlook
HIRI US Size of the Home Improvement Products Market
On Wednesday, the Home Improvement Research Institute (HIRI) released its latest US Size of the Home Improvement Products Market report, which included a downward revision to its 2025 forecast, citing macroeconomic challenges.
HIRI now projects total market growth of 2.5% in 2025, down from the 3.4% forecast in June. Consumer market sales are expected to rise 1.3%, compared to 2.6% previously, while professional market sales are forecast to grow 4.6%.
The institute said higher material costs, low housing mobility, and elevated interest rates have weighed on the revised forecast. Despite near-term pressure, HIRI projects the market will expand 4.0% between 2025 and 2029, led by lawn and garden, hardware, tools, and plumbing categories.
“Although consumer purchasing power may be shrinking in the short term, research on homeowner sentiment and intent shows that there is still an underlying appetite and demand for home improvement projects,” HIRI Executive Director Dave King said.
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