Infographics

A top of mind question remains in the home improvement industry: did high levels of home improvement activity during the pandemic represent a “pull forward” effect or a “one time” spending anomaly? Here’s what we know:

The past decade has been a boom for the home improvement industry, with homeowners prioritizing spending on their homes, and it shows. Homeowners are completing two to three times more projects now than they were a decade ago. Here's what else we know:

On average in 2023, 37% of homeowners opted to hire a professional for all or part of a project, up slightly from demand for Pros in 2021 and 2022. With continued prioritization of home improvements among homeowners, the question of how often they opt to DIY the project versus hiring a professional contractor remains pertinent. Here’s what we know:

Not all contractors are the same, nor are their attitudes and behaviors the same when it comes to shopping for and purchasing building materials and products they need to complete a job. Here’s what we know about the differences between specialist and generalist trade professionals.

The con­sumer seg­ment for lawn and gar­den equip­ment is pro­ject­ed to grow to $42.3 bil­lion in 2027. The lawn and gar­den equip­ment and sup­plies seg­ment for pro­fes­sion­als is also fore­cast­ed to expe­ri­ence steady growth from 2023 to 2027, up to $6.6 billion. Here's more of what we know:

Pros are expected to contribute to ongoing growth in the paint and paint supplies, flooring, and plumbing supplies markets due to continued market demand for repair and replace projects as homeowners update the aging housing stock. Among consumers, many of the primary markets pertaining to kitchen remodeling projects are expected to have decline in 2023 and 2024, with growth rebounding in 2025 through 2027. Here are further market trends to note:

Here's a look at the state by state forecasts for home improvement spending in 2024, separated by consumer and pro customer segments:

Among consumers, the primary markets pertaining to bathroom remodeling projects are expected to have declines in 2023 and 2024, with growth rebounding in 2025 through 2027. Pros are expected to contribute to ongoing growth in the plumbing supplies market due to continued market demand for repair and replace projects that are beyond a DIYer's typical skillset (i.e., plumbing and electrical projects). Here are further market trends to note:

To understand the current state of this skilled labor shortage as it relates specifically to the residential home improvement industry, our researchers at The Home Improvement Research Institute have been monitoring the implications of the skilled labor shortage since 2017. Now, in 2023, here's where the situation stands: