Home improvement and lending trends for 2019

In the world of home improvement lending, it makes sense to keep a pulse on key trends and consumer behavior. For 2019, the Home Improvement Research Institute provides some insight to key drivers for home improvement. For example, most DIYers are more likely to be Millenials according to recent research. Almost 25 percent of the […]

In the world of home improvement lending, it makes sense to keep a pulse on key trends and consumer behavior. For 2019, the Home Improvement Research Institute provides some insight to key drivers for home improvement.

For example, most DIYers are more likely to be Millenials according to recent research. Almost 25 percent of the nation’s population made improvements to their homes last year and only 7 percent of them hired a professional. Over-inspiration appears to be a key factor in the home improvement arena.  Of those surveyed, more than 30 percent who participated in renovations regretted not spending more when considering the project.  Other factors such as the rising rental housing market, growing interest in home wellness and smart home technology seem to have an impact on the growth in this market. Read more at Forbes.

If your credit union is in the market to increase increase income through this platform, consider checking out LEVERAGE partner, LENDKEY.

 

 

Read more at Forbes.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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