Declines in Consumer Confidence Not Matching Overall Home Improvement Sentiment Among Contractors
The Q1 2023 Farnsworth Contractor Index is available. Based on findings in the report, overall sentiment of Pros in their business outlook remains strong. Project backlogs remain around 8 weeks for contractors and only exterior contractors reported a decrease in their backlog volume - which matches historical year-over-year seasonality dips for exterior pros. Pros are rating confidence in their ability to get new business in the next 6 months at 83 out of 100.
Indianapolis, IN, April 06, 2023 --(PR.com)-- New data is available measuring project and product activity among contractors.
Each quarter The Farnsworth Group provides its complimentary Contractor Index to the industry. For the study, The Farnsworth Group’s market research team surveys hundreds of residential contractors from five main areas:
- Remodeling Contractors (Remodelers, GCs)
- Exterior Contractors (Roofers, Siding/Window Contractors)
- Finish Contractors (Painters, Flooring Contractors, Carpenters, Drywall)
- Mechanical Contractors (Plumbers, Electricians, HVAC)
- Landscape Contractors (Landscapers, Decking Contractors, Concrete)
Since 2018, the Farnsworth Contractor Index has served as the definitive monitor in the home improvement industry to track business confidence among trade professionals and small businesses.
The Q1 2023 Farnsworth Contractor Index is available. Based on findings in the report, overall sentiment of Pros in their business outlook remains strong.
Project backlogs remain around 8 weeks for contractors and only exterior contractors reported a decrease in their backlog volume - which matches historical year-over-year seasonality dips for exterior pros.
Pros are rating confidence in their ability to get new business in the next 6 months at 83 out of 100. This is the same as we saw in Q4 of 2022 and marks a sense of strong confidence among contractors in securing new business opportunities in the coming months.
The Farnsworth Contractor Index report also measures additional market pressures impacting contractors' abilities to successfully operate their business, including,
- Lead Quality
- Project Size
- Credit Availability
- Future Capacity
- Material Availability
- Material Cost Stability
To watch a 2 minute overview and download the complimentary report, visit www.TheFarnsworthGroup.com/Landing-Page/Quarterly-Contractor-Index
Our team at The Farnsworth Group will continue to monitor the quarter-over-quarter and year-over-year changes in Contractor confidence throughout 2023 and beyond.
Each quarter The Farnsworth Group provides its complimentary Contractor Index to the industry. For the study, The Farnsworth Group’s market research team surveys hundreds of residential contractors from five main areas:
- Remodeling Contractors (Remodelers, GCs)
- Exterior Contractors (Roofers, Siding/Window Contractors)
- Finish Contractors (Painters, Flooring Contractors, Carpenters, Drywall)
- Mechanical Contractors (Plumbers, Electricians, HVAC)
- Landscape Contractors (Landscapers, Decking Contractors, Concrete)
Since 2018, the Farnsworth Contractor Index has served as the definitive monitor in the home improvement industry to track business confidence among trade professionals and small businesses.
The Q1 2023 Farnsworth Contractor Index is available. Based on findings in the report, overall sentiment of Pros in their business outlook remains strong.
Project backlogs remain around 8 weeks for contractors and only exterior contractors reported a decrease in their backlog volume - which matches historical year-over-year seasonality dips for exterior pros.
Pros are rating confidence in their ability to get new business in the next 6 months at 83 out of 100. This is the same as we saw in Q4 of 2022 and marks a sense of strong confidence among contractors in securing new business opportunities in the coming months.
The Farnsworth Contractor Index report also measures additional market pressures impacting contractors' abilities to successfully operate their business, including,
- Lead Quality
- Project Size
- Credit Availability
- Future Capacity
- Material Availability
- Material Cost Stability
To watch a 2 minute overview and download the complimentary report, visit www.TheFarnsworthGroup.com/Landing-Page/Quarterly-Contractor-Index
Our team at The Farnsworth Group will continue to monitor the quarter-over-quarter and year-over-year changes in Contractor confidence throughout 2023 and beyond.
Contact
The Farnsworth Group
Danielle Fauteaux
317-241-5600
https://thefarnsworthgroup.com
Danielle Fauteaux
317-241-5600
https://thefarnsworthgroup.com
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