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2018 is the Year of Home Improvement Splurge Spending

from Pro Remodeler

All signs point to high(er) home improvement spending in 2018, with much of the money going to outdoor living enhancements and hiring professionals.

Indicator one: Americans have more disposable income.

In January, real disposable income increased 0.6 percent from the same time last year––the biggest rise in nearly three years, according to the National Association of Homebuilders. It should come as no surprise that personal consumption also rose in January: 2.7 percent year over year, to be exact.

One historical constant in the remodeling industry is that when disposable income rises, so do the amount of home improvement projects homeowners are willing to take on. We saw it clear as day between 2011 and 2013, when the economy was rapidly improving and home improvement spending increased by about $6 billion in two years. more


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