Houzz Renovation Barometer tracks confidence in the home renovation market among industry professionals. More than 5,000 U.S. residential service providers are members of the Houzz Industry Panel and provide quarterly updates on the health of the industry.
Findings from the Q1 2016 Barometer research include:
- Quarter-Over-Quarter Uptick: The Houzz Renovation Barometer, which tracks industry optimism in year-over-year and quarter-over-quarter market improvements, posted high Q1 readings across all industry groups (68-75 out of 100), reflecting widespread industry confidence in quarter-over-quarter market gains. Expectations for quarter-over-quarter gains in Q2 are sky-high.
- Labor Shortages: Labor continues to pose a top challenge for renovation-focused firms. In order to attract young workers, many companies are taking action by offering on-the-job training, leveraging social media to further promote job opportunities, and more. Consistent with 2015 Barometer findings, general contractors, remodelers and design-build firms report that carpenters are in the shortest supply across the U.S.
Download the current quarterly report to learn about the current state of professional confidence in the quarter-over-quarter and year-over-year improvements in the home renovation market on national, state and metro levels.