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Home renovators optimistic through cloudy Q3

Posted on Friday, October 23, 2015 at 10:33:16 AM

Confidence in the improving condition of the home renovation market is still high among industry professionals following a third quarter where market readings dropped between 6 and 11 percent from the second quarter.

Houzz, a company that specializes in home design and remodeling, reported the data in a press release earlier this week. The figures were collected using its Renovation Barometer, which measures industry confidence in the home renovation market by tracking fluctuations in renovation-related business activity. Houzz found that despite the slight dip, some of which can be attributed to seasonal slowdown, renovation firms continued to report growth in the size and scope of their projects, as well as enduring financial gains.

An analysis of the report conducted by Hanley Wood Remodeling concluded that this year's gross revenues and profits match or exceed pre-recession levels for the majority of firms. Such findings only point to continued optimism for the market through the rest of the year and into 2016, when home improvement financing will help homeowners take advantage of a great time for implementing energy efficient home improvements and other popular renovations.