Houzz releases Q2 renovation barometer
Houzz’s Q2 2017 Renovation Barometer, which tracks confidence in the home-renovation market among a range of industry professionals including builders/remodelers, architects and designers, shows quarter-over-quarter confidence is high.
Houzz says more firms reported market activity increasing than decreasing quarter over quarter, as reflected in barometer readings exceeding 50 points across all industry groups (63 to 78 out of 100).
The newly introduced Houzz Renovation Barometer Backlog Index shows a project backlog of 4-7 weeks on average across sectors, indicating delays of more than a month before companies can take on new projects.
Houzz adds similar to last year, many remodelers continue to report a shift in their project mix toward larger-scale and higher-end projects. Houzz data shows a third are experiencing growing demand for smart home technologies and increased preparation for retirement through aging-in-place-related upgrades, among other trends.