Even as the rest of this year looks soft, the Home Improvement Research Institute is more optimistic for what’s ahead.
The market for home improvement products should rebound and grow by 3.9 percent in 2025 according to a new market forecast from the HIRI. This will follow what is projected to be a 0.1 percent decline in calendar 2024, which does however mark an improvement over the previous year when the market showed a 1.6 decline. Net sales for this year are expected to be $545 billion, the organization said. Longer term it may be more of an inconsistent market, HIRI said, although it sees gains for both the consumer and professional sides of the marketplace.
Among its ten fastest-growing merchandise categories for consumers over the next four years are several product lines of interest to the wood industry: hard-surface floor coverings, other building materials, dimensional lumber and boards, roofing materials and supplies, kitchen and bath cabinets and doors and moldings.
For pro builders, the top ten fastest growers included gypsum and specialty boards, dimensional lumber and boards, plywood and related products and other building materials.
Even with the poor numbers this year and last, HIRI projects average annual growth rates of 4.2 percent for the consumer market and 4 percent for the professional market from 2026 to 2028.
