Findings from the Q2 2017 Houzz Renovation Barometer include:
Quarter-Over-Quarter Confidence is High: The Houzz Renovation Barometer, which tracks industry optimism in year-over-year and quarter-over-quarter market changes, posted Q2 readings exceeding 50 points across all industry groups (63 to 78 out of 100), as more firms reported market activity increasing than decreasing quarter over quarter.
New Houzz Renovation Barometer Backlog Index: The newly introduced Houzz Renovation Barometer Backlog Index shows a project backlog of 4.3 weeks to 7.4 weeks on average across sectors, indicating delays of over a month before companies can take on new projects. Design-build companies and general contractors (GCs)/remodelers have the longest backlog, averaging 7.4 and 7 weeks, respectively. Backlogs are longest in the West across all sectors.
Project Type Trends Continue in 2017: Similar to last year, many remodelers continue to report a shift in their project mix toward larger-scale and higher-end projects. A third are experiencing a growing demand for smart home technologies and increased preparation for retirement through aging-in-place related upgrades, among other trends.