Each quarter The Farnsworth Group provides its Contractor Index to the industry. We survey hundreds of residential contractors from five main areas:

• Remodeling Contractors (Remodelers, GCs)
• Exterior Contractors (Roofers, Siding/Window Contractors)
• Finish Contractors (Painters, Flooring Contractors, Carpenters, Drywall)
• Mechanical Contractors (Plumbers, Electricians, HVAC)
• Landscape Contractors (Landscapers, Decking Contractors, Concrete)

Our Q3 Farnsworth Index was released this month. The survey was conducted the first two weeks of September. Results show some trades increasing optimism, some stable and some have weaker confidence compared to Q2.  However, most Q3 results are still more favorable compared to Q1.

• Confidence among contractors working on the interior fell in Q3 over Q2.  Those working on the exterior saw an increase in confidence to get new business in the next 6 months.
• 40%-50% of residential trades expect to increase their revenue over the next 12 months compared to 30%-40% in Q1.
• Quality of leads remains high compared to historical norms despite the volume of leads being flat quarter over quarter.
• There is more confidence among contractors in their ability to find labor compared to historical averages.  Suggesting that while labor may still be a challenge, it is less of a concern today given workloads and other higher-ranking needs like product availability.

Be sure to check out the full Q3 Farnsworth Contractor Index by downloading today. Contact us for industry insights on what this means to your business and what to be paying attention to going forward regarding your customers, brand and products.