The Home Improvement Research Institute (HIRI) reported recently that U.S. home improvement product sales are expected to stay strong in 2006 and beyond.
In addition, Global Insight recently boosted its fourth quarter 2005 estimates to a level $4.8 billion higher than the firm forecast back in June 2005. The revised estimate for total 2005 sales is $291.3 billion, 7.5 percent higher than in 2004.
The improved forecasts can be attributed to continued strong housing markets and hurricane rebuilding, according to HIRI.
Professional Market sales growth, at 8.4 percent, is expected to exceed Consumer Market growth for the second year in a row in 2005, stimulated by repairs and rebuilding in the aftermath of severe hurricane seasons.