HIRI Notes Record Sales, Rising Mortgage Rates and Contractor Challenges in Economic Update

The Home Improvement Research Institute (HIRI) released the October 2026 HIRI Economic & Industry Update, a monthly report covering general economic data, housing market data and home improvement market data and evaluations of key economic indicators and their influence on the home improvement market. See five fast facts from the report and discover how the wider economy is currently impacting home improvement.

1. Rolling 12-month sales at building materials, garden equipment and supplies dealers reached $520.5 billion in August 2026, the highest level in the 25 months tracked.
2. The 30-year mortgage rate climbed to 6.86% in September 2026, its seventh straight monthly increase and its highest level since January 2025.
3. The Conference Board’s Consumer Confidence Index fell 7.6% in September to 81.9, its lowest reading in the 25 months tracked.
4. Among contractors reporting sales challenges, 45% now cite closing new business as a challenge, up from 23% in Q2 2026.
5. 54% of contractors postponed or cancelled scheduled jobs in Q3 2026, down from 60% in Q2 2026 but still well above the 30% of Q3 2025.

To read the full update, sign up to become a HIRI member here.