More than eight out of ten door, window, siding and roofing professionals say they’re confident they’ll be able to get new business in the next six months, according to the latest HomeAdvisor Farnsworth Index, which measures the home improvement industry across 13 categories.

“We are finally at the stage in the economic cycle where homeowners are taking on large projects, such as garage and basement conversions, whole kitchen and whole bath remodels and whole home makeovers,” said Brad Hunter, chief economist for HomeAdvisor. “Most professionals reported that their average job is larger than it was 12 months earlier, while only 6 percent of respondents said their average project got smaller.”

While 8.6 out of ten respondents in the survey’s exterior group, which includes contractors who specialize in doors, windows, siding and roofing, say their revenues would increase over the next six months, the numbers were slightly less optimistic when they looked ahead 12 months. About 80.4  percent saw business improving over the next year, down slightly from 81.5 percent in the second quarter of 2017.

Additionally, 53.4 percent of those in the exterior group said their average revenue per project had gone up in the past 12 months.

Despite strong confidence in the state of their business, many home improvement professionals say it’s still a challenge to find skilled labor. For example, about 6.9 out of ten members of  the exterior group reported challenges hiring skilled laborers in the past 12 months, down slightly from the second quarter. However, they also expressed confidence in the ability to hire enough labor in the coming 12 months, with positive views on acquiring workers coming in at roughly 70 percent.

“Companies continue to view the shortage of labor as one of the most important factors that could impede growth in the home improvement industry,” Hunter said. “The most common expectation among companies who are experiencing hiring difficulties is that they would be able to grow their company by an additional 11 to 20 percent if not for the labor shortage. We will continue to monitor this closely, particularly in Florida and Texas, post hurricane.”

The national online survey was conducted August 9-25. The sample for the study included 1,277 respondents across various construction and remodeling trades within the five industry segments (exterior, remodeling, mechanical, finishing and landscaping).

To download the full report, follow this link.

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