Porch released the 1st Edition Porch Data Trends Report.
Porch will issue this report several times per year, using insights from the 1.5 million professionals and more than 100 million projects in their network to share analysis into what is happening within the home improvement space. Through analysis of their data, Porch will be able to share national, regional, and local insights into how homeowners are spending their money, what types of professionals they are hiring, the types of projects they are completing, and economic indicators such as project Return on Investment (ROI) and Average Project Cost (APC).
"When we started to build the blueprint for Porch.com, we knew early on that the cornerstone of our experience would be data," said Matt Ehrlichman, CEO of Porch. "If you think about the home space, there is a lot of information out there. But what has never been explored with great depth is home improvement data at a national, regional, and local level that can help homeowners get the most out of their investment. For our very first Porch Data Trends Report, it was a no brainer for us to dive deep into the data to find ways that will help homeowners make informed decisions since spring and summer represents a peak time of year for home improvement, buying, and selling."
Findings of the report include:
- General contractors show up across the country as homeowners are likely taking care of projects to spruce up the home before they put it on the market.
- Areas that cause obvious concerns during a home inspection such as electrical, plumbing. HVAC, and roofing have a high propensity of activity.
- Porch was surprised so see that more homeowners do not hire painters before they sell, as interior and exterior paint is an affordable way to improve curb appeal before listing. On average, painting provides close to a 100 percent project ROI, making it a great project to complete before listing a home.
- New homeowners immediately tackle painting projects (both interior and exterior). On average it is a lower cost project that brings a sense of personalization to a new home along with improved curb appeal.
- Across the board appliance installation is high as new homeowners seek assistance for moving in and installing purchases like new dishwashers, refrigerators, washers, and dryers.
- Roof repair shows up as many homeowners likely negotiate any issues found during the inspection into a lower purchase price, making the act of roof repair an immediate need once they move in.
- Painting is the No. 1 priority for many homeowners. In particular, Porch found painting searches in the South to be 26 percent higher than the national average. In the parts of the country where the weather is warm and dry, Porch expects there to be year round trends to support exterior painting.
- Landscaping searches in the Midwest were 25 percent higher than the national average, signaling that the region is looking ahead to the start of spring.
- While not in the top five (but in the top 10), the Porch Search result revealed tree contractor searches in the Northeast that were 37 percent higher than the national average — a result of brutal winter conditions and related impact on trees.