Hurricane Recovery May Jumpstart Remodeling Activity

According to a recent industry report, hurricane recovery efforts in areas adversely affected by the 2017 hurricane season may help reinvigorate national remodeling activity that was largely stalled in the third quarter. WarmlyYours recently released its “2017 Third Quarter Industry Report.” One of the most significant findings that the report contained was evidence that areas like Houston, which had been adversely impacted by Hurricane Harvey, were actually demonstrating not just recovery but the potential for fourth quarter resurgence in terms of remodeling activity. Because of this, WarmlyYours projects a Q4 growth of radiant heating sales of 15% in the metro market of Houston.

The report, which is a quarterly assessment of the sales of radiant heating products within the wider context of the remodeling industry, also analyzes other remodeling benchmarks like the Leading Indicator of Remodeling Activity (LIRA) from the Joint Center for Housing Studies of Harvard University. The LIRA found that Q3 2017 remodeling activity was essentially flat and that an acceleration isn’t expected until 2018, however, the Joint Center did acknowledge that the full scope of the impact of the 2017 hurricane season is yet to be seen.