HVACR distributors that are members of Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) saw sales increase by 2.4% during December 2025 month-to-month, helped by an additional billing day vs. a year earlier. HARDI estimates that sales would’ve been down about 2.3% with the same number of billing days.

This followed same-daysales that were down 2.9% in November and 1% in October.

The annual sales growth for the 12 months through December 2025 was 2.8%.

The monthly HARDI members sales survey also calculates distributor’s Days Sales Outstanding, which is a measure of how quickly customers pay their bills. HARDI said the DSO for December was less than 39 days, just behind the 38 days of a year earlier, and a bit quicker than the 43 days during December in 2023, 2022 and 2021.

“The modest sales growth is consistent with the depressed existing home sales, weak consumer confidence and struggling ABI index,” Brian Loftus, HARDI Macroeconomic and Residential Market Analyst in the group’s monthly report. “Hopefully inflationary pressure can ease this year and we can see some benefits from the six rate cuts.”

HARDI members do not receive financial compensation in exchange for their monthly sales data and can discontinue their participation without prior notice or penalty. Participation is voluntary, and the depth of market coverage varies from region to region. An independent entity collects and compiles the data that can include products not directly associated with the HVACR industry.