Home Repairs Are Increasing As the Economy Recovers

Posted on May 24, 2011 by Eric Bell

Several home improvement retailers, including Home Depot, the nation's largest home improvement retailer, and House Doctors, a national professional handyman franchise, have noticed a recent increase in service demands since the housing market crash in 2006.

With an annual increase in same location sales of over 11 percent, Jim Hunter, CEO of House Doctors, claims that consumers are now outsourcing home improvement services as their involvement in home improvement projects increase. Due to this increased interest in the home improvement industry by entrepreneurs, the franchise development side of business is also steadily improving, as the number of awarded House Doctors franchises has tripled year-over-year.

"We've seen spending on home improvement pick up drastically because people feel more confident with their economic situations to fund such projects," Hunter said. "While people may not feel entirely comfortable taking on a new mortgage, they do feel comfortable funding their remodeling and home improvement project, which they can do at their own pace and help them stay happier in their current homes longer."

According to a report released last week by the National Association of Home Builder's Remodeling Market Index, the remodeling market index has reached its highest level in four years, indicating that the market is heading into recovery. As the economy continues to recover, Hunter forecasts a steady growth in consumer home improvement spending.

"As we are heading into peak of home improvement season, House Doctors is optimistic that consumer spending on home improvement projects will continue to gain momentum through the spring and into the summer," Hunter said. "Already this year with our sales increases, we are starting to see the light at the end of the tunnel."