Rising Rates Not Holding Home Improvements Back

The pent up demand for House Doctors handyman services, remodeling and home improvements means our franchisees are experiencing good growth as figures released just last week by the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau show housing production nationwide continuing to rise despite rate increases. We maybe at the other end of the housing industry in that we improve and repair existing homes but we are always monitoring any changes in the market to see what impact they may have on our franchise network.We are finding that recent rate increases are not having a negative impact on remodeling or the need for handyman services either.

House production continues to rise

The U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau show housing production rose by 0.9 percent to a seasonally adjusted annual rate of 891,000 units in August. Increases in single-family starts, up by seven percent to 628,000 were the main reason behind the increased housing production in August. Regionally, single-family starts activity rose 9.6 percent in the Northeast, 7.1 percent in the Midwest, 2.3 percent in the South and 17.5 percent in the West.This report means builders are now seeing the pent up demand that we have witnessed in remodeling and home repairs for most of this year. We have seen an improvement over the year in homeowners confidence with many customers now interested in bigger projects.

This is all very encouraging with neither segment of the market being hindered by rising interest rates. With this pent up demand now is the time to consider a handyman services and remodeling franchise. Our top franchisees are growing at a fast pace with same store sales growth of 20 percent  With this strong market growth we are looking to open another 40 franchises over the next year.

Why do you think our market is so strong?