Professionals across the home renovation industry saw modest growth in business activity in the second quarter of 2024. This is the fourth consecutive quarter-over-quarter increase for architectural and design pros and the first positive shift for construction pros in two years. Businesses in both sectors remain mildly optimistic about activity heading into the final stretch of the year.
Those are key takeaways from the just-released Q3 2024 Houzz Renovation Barometer, which provides timely insights into the residential renovation industry, including expectations, project backlogs and recent activity among businesses in the construction sector and the architectural and design services sector.
“Pros report moderately increased activity across the industry, which is particularly significant for the construction sector following a two-year slowdown,” Houzz staff economist Marine Sargsyan says. “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.”