Houzz’s Q2 2016 Houzz Renovation Barometer, which assesses confidence in the home renovation market among industry pros, found “widespread quarter-over-quarter confidence” for architects, designers, general contractors/remodelers, design-build, specialty building/renovation and specialty landscape/outdoor firms.
A few findings in particular stand out:
• Many of the survey’s participating firms, across all sectors, say that their clients are buying high-end products, are tackling multiple projects at a time, and/or are taking on more kitchen and bathroom renovations.
• Year-over-year rises in business tend to be led by older homeowners, but half or more firms also noted an increase in activity among Generation X homeowners.
• Baby boomer projects are also increasing.
“Barometer readings over the past six quarters have shown consistent confidence in the home renovation industry, despite slight softening in some sectors,” says Nino Sitchinava, principal economist at Houzz. “The increase in baby boomer and Gen Xer activity, as well as an uptick in kitchen and bath activity, is consistent with our recent insights from other studies of homeowners and are a great sign of the vitality of our industry.”