The American residential repair, maintenance and improvement (RMI) market is predicted to hit about US$220bn in 2006, beating last year’s record performance.
Industry newsletter Random Lengths said analysts expected last year’s RMI spending to be about US$210bn, compared to US$199bn in 2004.
Record sales of existing homes, a strong economy and repair work in the wake of hurricanes Katrina and Rita all contributed to the strength of the RMI market.
The Western Wood Products Association believes timber used in the sector last year reached 20 billion board feet for the first time. It predicts the figure will hit 20.5 billion board feet in 2006, despite a projected 2% slip in overall timber consumption.