PHTA’s Pulse Survey Shows Continued But Slowing Growth Across Industry
The PHTA’s Q3 pulse report indicates revenue has remained the same or increased for more than 61% of respondents. A majority of the revenue increase took place in the service, maintenance and repair sector, where 81% of respondents said revenue was flat (6%) or increased (75%). Echoing this data is revenue for the retail sector, where more than 77% of respondents said revenue was the same (22%) or increased (55%).
In terms of employment, the builder segment remained largely unchanged while the service, maintenance and repair sector grew substantially, with 54% of respondents reporting increases in headcount. And of those that increased headcount, 67% increased by 6% or more.
The new build backlog has declined with 61% of respondents experiencing anywhere from a 1% to more than a 15% reduction. Backlogs for remodel jobs remain at the same level from Q2 to Q3.
A majority of builders, service providers and retailers are optimistic and expecting steady or increased revenue for their companies over the next 12 months. Specifically:
- 87% of service, maintenance and/or repair respondents said revenue will be the same or better.
- 67% of builders, designers and remodelers said revenue will be the same or better.
- 71% of retailers said revenue will be the same or better.
More than 135 companies participated across all sectors — retail, service, maintenance, hot tubs and builders. Respondents reiterated that the top two issues are the economy, including inflation and interest rates, and the ability to recruit and retain staff.
PHTA offers access to this data to participants only. Upon filling out the survey, an access key will be sent to participants when the quarterly data is available.
The Q4 quarterly pulse survey will open on Jan. 15, 2024, and close 15 days later. The opening dates for the 2024 quarterly pulse surveys are:
- Q1 2024: Apr. 15
- Q2 2024: July 15
- Q3 2024: Oct. 15
- Q4 2024: Jan. 15, 2025
This survey is open to all industry professionals in the builder, retail, service, maintenance and hot tub sectors. PHTA plans to release Q4 results by Feb. 15, 2024. To participate and receive a customized benchmark report, go to phtainsights.com.
For more information, please visit the PHTA Research Center or contact Amy Willer, PHTA’s associate director of marketing and communications, at awiller@phta.org or 703-838-0083, ext. 121.
