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The housing market is hot — and its reach is broad. Current homebuyers hail from four different generations, each of which follows different purchasing patterns. New research from the Home Improvement Research Institute explores these patterns and their drivers, creating a valuable resource that can help inform your decisions.

The 2020 HIRI Product Purchase Track Survey (PPTS) is now available to members. The survey looks at trends in home improvement product and service purchases based on data provided biennially from homeowners across the United States. This latest report covers 14 product categories, 238 individual products, 18 types of projects and 23 services, all purchased over the course of 2019 and analyzed in 2020.

Homeowners and DIYers make their home improvement purchases for any number of reasons. Understanding the mindset around their purchases can help home improvement companies gain insight into their DIY customers and the decisions they’re making in order to market more effectively.

COVID-19 has changed the way we all do business, from manufacturers to contractors. In a year where we’ve all had to adapt, both to huge swings in demand and in terms of how our services are provided, contractors especially are adjusting to the new realities.

Having data on home improvement and insights on customer behavior can help professionals navigate a shifting and unpredictable economy.

2020 has been a challenging year across all industries, and home improvement has been no exception. With so many homeowners at home, the demand for home improvement products and services exploded, while the supply chain struggled to keep up with that demand. Let’s look at the top findings from HIRI’s home improvement industry research this year.

Home sales have been a hot topic throughout much of the year. Aside from the short drop due to COVID-19 lockdowns this spring, home purchasing has exploded, showing growth rates more than 20% in recent months compared to last year.

There isn’t one way to define “normal” in 2020, especially when it comes to home improvement industry trends. Even though our collective reality looks different than it did this time last year, home improvement companies need a way to measure what’s happening in the industry, so that they can make decisions about their business with confidence.

This year’s HIRI Summit was, like most conferences and events in 2020, held a little differently — though that didn’t take away from the wealth of knowledge the panel of experts imparted.