Remodeling Activity Remains ‘Strong,’ Houzz Survey Finds
PALO ALTO, CA — Confidence over the current and future market for home renovation activity remained high among residential construction and design businesses in the second quarter of 2021, following a strong first quarter, according to Houzz, the online platform for residential remodeling and design.
According to the Q2 2021 Houzz Renovation Barometer – which tracks residential renovation market expectations, project backlogs and recent activity among businesses in the nation’s construction, architectural and design services sectors – market conditions remain “strong … diminishing the uncertainty experienced by residential remodeling and design businesses just one year ago.”
“Following a busy first quarter, businesses are faced with soaring homeowner demand along with lengthy permitting timelines, supply chain constraints and unrelenting labor shortages,” said Marine Sargsyan, senior economist for the Palo Alto, CA-based Houzz, noting that existing supply chain restraints are likely contributing to industry-wide wait times of more than two months before a business can begin a new project.
Home renovation and design businesses have continued to respond to pandemic-related business challenges by implementing new tools and practices, Houzz also reported. Specifically:
n Approximately one-third of surveyed businesses in the architectural and design services sector, as well as the construction sector, have increasingly adopted online invoicing and payments.
n Architecture and design firms reported that the top three activities they implemented in response to pandemic-related challenges included video consultations, new safety guidelines at the office and worksite and remote collaboration tools.
n Construction businesses reported that the top three activities they have adopted in response to pandemic-related challenges included new safety guidelines, online product sourcing and digital tools for document and contract approvals.
Houzz Renovation Barometers are based on quarterly online surveys sent to a national panel of businesses with an online profile on Houzz. The Q2 2021 Barometer was fielded from March 25 through April 8, and garnered responses from nearly 1,500 home improvement companies, according to Houzz.