Houzz Survey Reveals Positive Shift in Construction Sector

Houzz Inc. has released the Q3 2024 Houzz US Renovation Barometer. The report found increases in Q2 business activity compared with Q1 among home remodeling and design professionals.

This is the fourth consecutive quarter-over-quarter increase for architectural and design pros. Notably, it also marks the first positive shift in the construction sector following two years of decline. Businesses across all sectors remain mildly optimistic about activity in the coming quarter.

“Pros report moderately increased activity across the industry, which is particularly significant for the construction sector following a two-year slowdown,” said Marine Sargsyan, Houzz staff economist. “Third-quarter expectations are cautiously optimistic as pros navigate the current political and economic landscape, and face challenges related to costs and availability for labor, products and materials.”

Q3 2024 Architectural and Design Services Sector Barometer

The quarterly Houzz US Renovation Barometer provides timely insights into the residential renovation industry, including expectations, project backlogs and recent activity among businesses in the US construction and architectural and design services sectors. Scores for each component are computed as a seasonally adjusted diffusion indices on a scale of 0 to 100, with index values ​​over 50 indicating that a greater proportion of firms reported quarter-over-quarter increases than those reporting decreases.

Detailed methodology and underlying quarterly indices for the construction sector and the architectural and design services sector, and other information on market conditions, can be found on houzz.com/research. The Q3 2024 Barometer was fielded June 29 through July 9, 2024, and garnered responses from over 1,200 home improvement firms on Houzz.