What type of construction is a remodel?
Remodeling is defined as altering a structure, whether this alteration is exterior or interior, from the original construction. Some examples of remodeling are, but are not limited to: Completely transforming the structure and/or style of any space, home, or building.
How big is the home improvement retail industry?
The market size, measured by revenue, of the Home Improvement Stores industry was $260.5bn in 2022. What was the growth rate of the Home Improvement Stores industry in the US in 2022? The market size of the Home Improvement Stores industry declined -0.2% in 2022.
Is home improvement a growing industry?
While the rate of home improvement activity is expected to slow, individuals and investors will continue to allocate funds into home repairs, updates, and remodeling. The industry raked in about $538 billion in 2021.
How big is the remodeling industry?
Questions Clients Ask About This Industry
The market size, measured by revenue, of the Remodeling industry was $109.6bn in 2022. What was the growth rate of the Remodeling industry in the US in 2022? The market size of the Remodeling industry declined -11.3% in 2022.
What industry is home improvement?
This industry encompasses the sale of building materials, appliances, décor, and other home enhancements, along with the services offered by contractors, tradespeople, and other workers who help to build, install, modify, and upgrade homes.