Q3 of 2023 results from the Farnsworth Quarterly Contractor Index are now available to download. The mindsets of the consumer is strong and that is having a positive impact for home improvement, which we see in how professional contractors view the present and future outlook of their businesses.
A new narrative is taking shape, in contrast to contractor sentiments than we’ve been seeing for the last couple of years. Pay attention to how contractor outlook for the future of 2023 and especially 2024 is changing. Here’s what we’re seeing:
Roofing projects are a staple project when it comes to maintaining and protecting the value of a house, and homeowners depend heavily on professional contractors to help with repairs and replacements—from selecting and acquiring materials to performing the actual installations. Here's a look at what homeowner trends are impacting the roofing industry in 2023:
With the emerging consumer shift in 2023 towards repair and remodel focused projects, discretionary purchases of appliances may be put on hold, or result in trading down, but necessary replacement of appliances will continue. Here's more on this and other trends in the Consumer Large Appliance category:
Because of inflation, the rapid pace of growth in DIY home improvement spending is expected to slow down in 2023. This makes it imperative for building materials companies to be intentional and strategic when looking for ways to expand their market share. In other words, you’ll have to compete again. Here's how to get the upper hand:
Download informative reports to keep a pulse on how your target DIYer, Contractor, Builder, and Architectural customers' purchase behaviors are changing.Browse RESOURCES