Qualified Remodeler's ‘TOP 500’ Residential Remodelers Offers Insights on $500 billion R&R Market
August 16 2024 - 7:03AM
Business Wire
Qualified Remodeler, the leading media outlet for residential
remodelers and home improvement firms, just released its 46th
annual TOP 500 list of the industry’s largest companies. Together,
the group tallied $21.7 billion in sales on 2.1 million jobs during
the year that ended in December. A year ago, the TOP 500 posted
$19.9 billion in remodeling sales.
The rapid growth of top remodelers and home improvement
companies is a result of steady market demand and increased
investment in the repair-and-remodel (R&R) sector of the
residential construction industry, said Patrick O’Toole, co-owner
of SOLA Group Inc., which publishes Qualified Remodeler.
“Tougher market conditions at the end of 2023 and into 2024 did
not deter a broad cross-section of the industry’s largest
remodeling firms from finding a way to post more sales and more
jobs last year,” O’Toole said. “Facing tepid consumer sentiment and
higher costs for leads, labor and materials, big firms got it done
anyway.”
Recent estimates of the size of the remodeling and home
improvement markets have exceeded $500 billion annually. The TOP
500 is comprised of five primary segments: home improvement or
replacement firms, design/build firms, full-service general
contractors, kitchen and bath remodelers and insurance restoration
companies.
Segment-by-segment analysis of the list shows that the fastest
growth was among specialty home improvement firms who focus on a
range of replacement products like windows, roofing, siding,
decking and bath enclosures, among others. Large full-service and
design-build firms are expecting to see growth this year and into
2025.
Each fall, Qualified Remodeler hosts TOP 500 LIVE, a management
conference for the nation’s top remodelers and home improvement
pros. This year the event will take place Oct. 28 to Oct. 30 at The
Cosmopolitan of Las Vegas. In addition, the media brand jointly
produces a quarterly sentiment index, The U.S. Remodeler Index,
with its partner John Burns Research & Consulting.
Qualified Remodeler is owned by SOLA Group Inc., a
business-to-business media company focused on residential design
and construction. SOLA also publishes Kitchen & Bath Design
News and Residential Design magazines. To learn more about
Qualified Remodeler, go to qualifiedremodeler.com or
solabrands.com.
To advertise with Qualified Remodeler, contact company president
Paul DeGrandis, paul@solabrands.com or (847) 440-3000 x100.
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version on businesswire.com: https://www.businesswire.com/news/home/20240816083837/en/
Patrick O’Toole, patrick@solabrands.com (847) 440-3000 x103