The number of home-improvements products sold in the United States has climbed to a record pace of 9.6 million in 2016, surpassing the 9.5 million sales in 2015, according to data from the U.S. Department of Commerce.
That’s an increase of 1.2 million products since the year before, according a report from research firm Zillow, and a 1.4 million product increase over the year-earlier period.
The latest data from Zillower’s Markit Home App show that sales of products such as new kitchens, furnishing and carpets, and furniture were up 7.3% year-over-year.
The Zillovision company reported the first quarter of sales figures for 2018, which was the third straight quarter of growth.
The company attributed the rise in sales to improved consumer awareness of home improvement, increased demand for such products, and lower mortgage rates.
The overall home-equity market is expected to grow at a solid pace in the second half of 2019.