Download the Full ReportRENOVATION ACTIVITY & SPEND HIT THREE-YEAR HIGH: Home renovation activity and spend are at the highest rates reported since 2019. Nearly half of homeowners (48%) renovated in 2021, up from 44% in 2020. Homeowners recorded a significant 43% in median renovation spend at $30,000 from $21,000 in 2020.
PLANNED RENOVATION SPEND INCREASES YEAR-OVER-YEAR: Home renovation activity continues into 2022, with nearly half of homeowners planning to renovate (49%) and nearly two-fifths planning to decorate (39%) this year. For the first time since 2019, homeowners’ planned spend has increased to $25,000 for 2022 versus $15,000, a 67% jump. Homeowners with higher-budget renovations (the top 10% of spend) are planning to spend $138,000 on projects in 2022.
DEMAND GROWS FOR HOME PROFESSIONALS: Homeowners sought help from professionals for their renovations in 2021 (94%) more often than in the year prior (91%). Homeowners relied most heavily on the expertise of specialty service providers such as electricians (68%) and plumbers (54%) for their projects. That said, builders (24%) and architects (10%) were the most hired professionals in construction and design-related services and saw a significant jump in 2021 compared with 2020 (19% and 6%, respectively).
SWITCHING UP INTERIORS: Investments in interior rooms remained the priority for seven in ten renovating homeowners in 2021 (70%). Kitchens are both the most popular interior room to be upgraded and the room that commanded the highest spend at $20,000. Interior rooms that saw the most dramatic increase in popularity from the previous year included guest bedrooms (24%), guest bathrooms (23%), an entry or mudroom (17%) and wardrobes (16%).
Research Note: The Houzz & Home Survey was sent to registered users of Houzz and fielded March through April 2022.
Download the Full ReportSee the Press Release
RENOVATION ACTIVITY & SPEND HIT THREE-YEAR HIGH: Home renovation activity and spend are at the highest rates reported since 2019. Nearly half of homeowners (48%) renovated in 2021, up from 44% in 2020. Homeowners recorded a significant 43% in median renovation spend at $30,000 from $21,000 in 2020.
PLANNED RENOVATION SPEND INCREASES YEAR-OVER-YEAR: Home renovation activity continues into 2022, with nearly half of homeowners planning to renovate (49%) and nearly two-fifths planning to decorate (39%) this year. For the first time since 2019, homeowners’ planned spend has increased to $25,000 for 2022 versus $15,000, a 67% jump. Homeowners with higher-budget renovations (the top 10% of spend) are planning to spend $138,000 on projects in 2022.
DEMAND GROWS FOR HOME PROFESSIONALS: Homeowners sought help from professionals for their renovations in 2021 (94%) more often than in the year prior (91%). Homeowners relied most heavily on the expertise of specialty service providers such as electricians (68%) and plumbers (54%) for their projects. That said, builders (24%) and architects (10%) were the most hired professionals in construction and design-related services and saw a significant jump in 2021 compared with 2020 (19% and 6%, respectively).
SWITCHING UP INTERIORS: Investments in interior rooms remained the priority for seven in ten renovating homeowners in 2021 (70%). Kitchens are both the most popular interior room to be upgraded and the room that commanded the highest spend at $20,000. Interior rooms that saw the most dramatic increase in popularity from the previous year included guest bedrooms (24%), guest bathrooms (23%), an entry or mudroom (17%) and wardrobes (16%).
Research Note: The Houzz & Home Survey was sent to registered users of Houzz and fielded March through April 2022.
Download the Full Report
See the Press Release