Some of the questions asked in the survey:
- What is driving renovation activity?
- How much has kitchen and bathroom renovation spending grown?
- What is the impact of home buying and selling on renovation budgets?
- How do millennial design preferences differ from those of baby boomers?
- What are the top projects of 2015?
Download the report and view a recording of a recent webinar with Houzz Principal Economist Nino Sitchiniva for more insight.
Houzz also just released the findings from its Q2 2016 Renovation Barometer, which tracks confidence in the home renovation market. More than 5,000 home builders, architects, designers, contractors, landscape professionals, and other industry pros participated. Its findings:
- Quarter-Over-Quarter Uptick. High readings reflect widespread industry confidence in quarter-over-quarter market gains. The outlook for the third quarter continues to point toward positive growth in all sectors.
- Year-Over-Year Growth Slows in Design-Related Sectors. The barometer posted high year-over-year readings in the second quarter. However, these scores decreased slightly from the first quarter for five of the six industry groups surveyed. Despite business growth, the overall confidence of design-related industry groups has declined four quarters in a row.
- Changes in Client, Project Mix Drive Increase in Business Activity. Half or more of firms across all industry groups report that activity of home owners ages 35-54 has increased year-to-date relative to the same period last year. Projects from boomers are also on the rise. Additionally, many firms report that more clients are purchasing high-end products, tackling multiple projects at a time, and/or are taking on more kitchen and bathroom renovations.