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According to Thomas Grillo of the Boston Business Journal, the remodeling market, although growing strong at the moment, is predicted to smooth over a bit towards the end of the fourth quarter. This is the projected as the tipping point result of flourishing housing recovery. After housing sales regulate, and more people have settled in, home remodeling spending will decline.
Chart distributed originally by Boston Business Journal
The dip at the end of the year on the chart may not seem dramatic in comparison to the overall growth, but that couple of percentage points decrease could mean billions of dollars in loss of potential sales. While this trend cannot be directly controlled or changed, home improvement industry professionals and businesses can plan ahead by focusing priority campaigns or product launches during the spring through early fall seasons this year when sales potential will be at its highest. During the sales decline in home improvement, consumers may be less likely to try a new or innovative home improvement product or service so investing your time and money in tried-and-true best sellers may be best. It is perhaps ideal to build buzz and product/service impressions while consumer spending is high and depend on building long term customer relationships and communication post sale to get the greatest impact during and after the sales slump.
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