‘Resilient’ Market Seen Returning to Pre-Pandemic Levels
PALO ALTO, CA — The residential remodeling and design industry is “truly resilient and is seeing business activity return to pre-pandemic levels,” according to researchers at Houzz, Inc., the Palo Alto, CA-based online platform for home remodeling and design.
Houzz said that its “Q4 2020 Houzz Renovation Barometer” shows that businesses in the U.S. construction sector have recovered to pre-pandemic activity levels and are reporting their strongest business activity since the third quarter of 2018.
“Home professionals have a positive outlook through the end of the year, despite unprecedented uncertainty due to the pandemic and the upcoming election, increasing supply chain constraints as well as shortages in the labor market,” said Marine Sargsyan, Houzz senior economist. “Pros are taking on new clients remotely using online tools and collaboration platforms, continuing the momentum from the recent quarter.”
Houzz Renovation Barometers track residential renovation market expectations, project backlogs and recent activity among businesses in the construction sector and the architectural and design services sector in the U.S. Findings were based on a quarterly online survey sent from Sept. 24-Oct. 7 to a national panel of businesses with an online profile on Houzz, which said that gains were reported in recent business activity, project backlogs and expected business activity.
“Architecture and design firms responded to pandemic-related business challenges by offering video consultations, implementing safety guidelines at the office and worksite, providing remote collaboration tools and sourcing more products online,” Sargsyan said. “Construction businesses implemented new safety guidelines, utilized video consultation tools and sourced more products online.”