U.S. Remodeling Industry is Back & Metal Roofing Continues to Grow In Popularity

Data from a new report, Emerging Trends in the Remodeling Market released by the Harvard Joint Center for Housing Studies, concludes that the remodeling market is almost fully recovered from the downturn the remodeling industry has faced in recent years.  In the aftermath of the Great Recession, the U.S. home improvement and repair industry has faired much better than the broader housing market.  By 2013, the remodeling industry was back near $300 billion and could easily post record-level spending in 2015.

Remodeling Report

With the economy strengthening and house prices recovering, spending on discretionary home improvements- kitchen and bath remodeling, room additions and outside attachments such as porches and decks- rose by almost $6 billion between 2011 and 2013.  Even more significantly, the share of spending on these discretionary projects increased for the first time since before the housing crash.  Several opportunities exist for further growth in the remodeling industry including aging in place retrofits, energy-efficient and other sustainable improvements.

MetalSales metal roof

Even more significantly, the share of spending on these discretionary projects increased for the first time since before the housing crash.  According to the report, several opportunities exist for further growth in the remodeling industry including aging in place retrofits, energy-efficient and other sustainable improvements, re-investment in rental stock and new demand for DIY projects from the burgeoning and diverse millennial generation.

Sustainable home improvement projects such as eco-friendly metal roofing are on the upswing, generating about 30 percent of revenue at full-service remodeling firms.  Around 20 percent of homeowners reporting improvement spending in 2012 or 2013 indicated that at least one of their projects was for energy efficiency purposes.

Contractors looking for an opportunity to grow their business should consider adding metal roofing systems to their portfolio of available services.  “The higher consumer demand for metal roofing systems has resulted in a need for more quality metal roofing contractors,” explains MRA Executive Director Bill Hippard.  “However, it’s critically important that new contractors be trained on how to handle, prepare and properly install metal roofing systems.  All MRA manufacturers offer training and certification programs to assist new installers.”

For more information about becoming an MRA member contractor, or to locate an MRA member manufacturer, visit the MRA website at: http://www.metalroofing.com/