The HomeAdvisor Farnsworth IndexCreated through a partnership between HomeAdvisor and the Farnsworth Group, the index will track business confidence across 13 home improvement industry categories, including remodelers, carpenters, painters, plumbers and roofers.  

Created through a partnership between HomeAdvisor and the Farnsworth Group, the index will track business confidence across 13 home improvement industry categories, including remodelers, carpenters, painters, plumbers and roofers.  

The HomeAdvisor Farnsworth Index serves as the definitive monitor in the home improvement industry to track business confidence among trade professionals and small businesses. The Index provides insights on new business leads and inquiries, volume and quality of job backlog, labor availability and costs, government and regulatory climate and the economy. The Index is informed by a quarterly survey of thousands of home professionals and small businesses across 13 business categories including remodelers, carpenters, painters, plumbers and roofers. Additional insights are provided by Brad Hunter, HomeAdvisor’s Chief Economist.

“Home services plays a vital role in the U.S. economy regarding labor, manufacturing and retail. Tracking topics critical to residential contractors provides additional data to monitor those market conditions,” said Grant Farnsworth, Partner at The Farnsworth Group. “The HomeAdvisor Farnsworth Index provides insights into how service professionals’ sentiment correlates with industry activity.”

Some of the key findings from this quarter’s index include:

  • 80.8% of those surveyed report that they expect their company’s revenue to increase in the next twelve months
  • 53.6% of respondents report that they have faced challenges hiring skilled laborers in the past twelve months
  • 55.8% surveyed report that their company’s average revenue per project has increased over the past twelve months

“Our network of service providers – which recently topped 150,000 nationwide – is second to none when it comes to reach, quality and reliability,” said Brad Hunter, HomeAdvisor’s Chief Economist. “Our pros are on the front lines of the economy and home improvement cycles and provide valuable insights into the industry.”  To view the full Q1 HomeAdvisor Farnsworth Index results, please visit HomeAdvisor’s website.