According to the 2018 ASID Interior Design Outlook and State of the Industry, the next two years will see impressive growth in U.S. home improvement spending. With 2014-2016 tracking at more than 10 percent year of year, and 2017 up another 15 percent, the trend line has been steadily up since economic recovery took hold and is now well above pre-recessionary levels.
Purchasing a home, new or existing, spurs spending on improvements, the report states, as does preparing a home for sale. Even making the decision to stay in a home can lead to fixer-up spending or even additions. As it’s become easier to obtain financing and interest rates have stayed relatively low, making improvements is more in reach for more American households.
According to a National Association of Home Builders study from 2017, new home buyers spend an average of $12,000 in the first year of following the purchase of a house, while existing home buyers spend $11,000.
Make the most of home buyers' spend by sourcing for your projects at AmericasMart. Visit our Open Year Round resources or shop Fall Design Week, September 24-28, 2018.