Residential remodelers nationwide say they’re confident in the industry’s future, according to the latest Houzz Renovation Barometer.
In a survey of more than 2,400 remodeling professionals spanning the spectrum of the field, from landscapers to architects, Houzz researchers found that despite a persistent labor shortage and the rising cost of materials, sentiments regarding the remodeling industry remain positive. Below are some of the survey’s key results:
- Quarter-over-quarter market confidence stumbled 3 percentage points from 76 to 73 percent for design-build firms. However, the number is still high for the index and indicates consistent confidence among remodeling professionals.
- Houzz’s newly introduced Renovation Barometer Backlog Index showed an average four-to-seven-week delay across all surveyed sectors, with design-build firms having the highest average backlogs at 7.4 weeks. Those delays were particularly prevalent in the West.
- Kitchen and bathroom projects continue to lead the industry. But where those jobs have remained constant, a new and growing trend is the shift to larger-scale and higher-end jobs.