Rate Cuts and Economic Relief Create Opportunity for Home Service Providers

Jobber’s 2024 Q2 Home Service Economic Report highlights that the Home Service industry experienced modest growth, primarily driven by an increase in average invoice size. The industry is expected to grow in the second half of 2024 as inflation cools and the Fed announced a rate cut of 50 basis points. The HVAC and plumbing segments are expected to continue to grow in the coming years due to the aging of US housing stock.

Inflation easing, decreased interest rates, and aging housing stock will also drive the growth of the remodeling segment of the Home Services industry.