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Home improvement becomes a buyer's market [Video]

Posted on Wednesday, June 15, 2016 at 4:55:10 PM

The growth seen in the home improvement planning and spending market has been immense, and definitely appears to be promising from an economic standpoint. Higher consumer spending, especially on investments in houses and similar long-term assets, generally indicates a healthy financial situation. Now, all that spending appears to be having another impact. 

Bloomberg reported that some of the largest sellers of home improvement and furnishing products saw a drop in revenues and shares following a lackluster May, bucking a trend that had seen an average of 4.4 percent increases monthly through the first four months of 2016. 

The news provider pointed out that one data analyst for Bloomberg Intelligence, Seema Shah, has witnessed growth among other retailers in the sector and believes that it might be simply becoming more competitive. This would bode well for consumers who are looking to purchase relevant products, as a buyer's market will lead to more preferable prices on items. 

Homeowners who are looking to make some big improvements that require financing should consider applying with a local, community bank for their loan needs.