The home improvement industry is growing due to rising home prices and aging housing stock, prompting homeowners to invest in renovations rather than buying new properties. Thus, investors could consider adding fundamentally sound home improvement stocks, such as Haverty Furniture Companies, Inc. (HVT) and Tile Shop Holdings, Inc. (TTSH), which are hammering big gains.
Rapid urbanization and the growing demand for modern, smart homes are key drivers of the home improvement market. As cities grow and the standard of living improves, there is a greater demand for homes that incorporate cutting-edge technology and modern design. The home Improvement market is estimated to grow at a CAGR of 6% between 2024 and 2032.
