Rapid urbanization, inflating income levels, and changing living standards are strengthening the home improvement market. Also, the increasing need for remodeling and upgradation activities of homes is expected to boost the market. Given the industry’s rosy prospects, investors could look into fundamentally strong home improvement stocks, The Home Depot, Inc. (HD), Flexsteel Industries, Inc. (FLXS), and Lowe's Companies, Inc. (LOW), for explosive returns.
The global home improvement services market is expected to grow at a CAGR of 4.6% until 2028. The increasing need for remodeling homes, the rising adoption of smart homes, and the growing requirement for energy-efficient living spaces represent some of the key factors driving the home improvement market.
