"The Q3 Contractor Activity Tracker, released by The Farnsworth Group and Home Improvement Research Institute, found that home improvement contractors are less optimistic than they were a year ago. A majority, 57%, said that their company will grow over the next 12 months, down from 71% a year ago. Meanwhile, contractors who are optimistic about the future of the market declined from 71 to 53% year-over-year. Despite this downward trend, the future outlook has stabilized over the last two to three quarters."
"They're seeing homeowners kind of push and pressure them on the budgets, Farnsworth said. I think that's reflected in the homeowner confidence that we see broadly in the marketplace, which is, I feel okay about today. I just don't know what's going to happen tomorrow, and I just don't know if it's the best time to spend big on my home."
Most home improvement contractors remain optimistic about the market, though optimism has declined compared with a year earlier. The Q3 Contractor Activity Tracker found 57% of contractors expect company growth over the next 12 months, down from 71% a year earlier, and optimistic contractors fell from 71% to 53% year‑over‑year. Material costs and constrained consumer spending are weighing on expectations, with middle price‑point projects slowing while luxury projects hold steady. Homeowner budget pressures and uncertain economic outlooks are reducing willingness to undertake large projects. Existing-home contractors show relatively greater confidence, partly due to homeowner equity enabling renovation rather than purchasing.
Read at www.housingwire.com
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