During the Home Improvement Research Institute Spring Conference in Arlington, Va., a presentation from IHS Global Insight presented a relatively positive forecast for the home improvement products market.
Both 2012 and 2013 should be better than 2011, according to the forecast.
The annual change of sales (in nominal dollars) for 2012 is forecast at 5.0% and 4.6% for 2013. In the Consumer market, the growth rates are 5.4% for 2012 and 4.6% for 2013.
The Professional market, which grew a mere 2.9% in 2011, is forecast to grow 4.0% in 2012 and 4.7% in 2013.
Looking further into 2014, the growth rate of the sales of home improvement products is expected to gradually accelerate, according to James Gillula, managing director of consulting services for IHS Global Insight.