The home improvement industry is poised to flourish in the long run, with easing inflation and rising demand for smart and energy-efficient remodeling solutions. So, quality home improvement stocks National Presto Industries, Inc. (NPK), Tile Shop Holdings, Inc. (TTSH), and Bassett Furniture Industries, Incorporated (BSET) could be wise additions to your portfolio.
Technology and innovation are altering the home remodeling industry, giving homeowners an extensive range of new tools and materials to help them build the homes of their dreams.
Rising demand for remodeling is fueling the growth of the home improvement services market. Moreover, technological advancements such as visualization apps and 3D software are helping to improve the home remodeling process.
The home improvement services market is expected to reach $585.30 billion by 2030, growing at a CAGR of 6.2%.
In addition, federal tax credits to encourage homeowners to adopt energy-efficient home improvements are also boosting the industry.
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