Houzz Inc., the leading platform for home remodeling and design, today released the Q2 2015 Houzz Renovation Barometer, which tracks confidence in the home renovation market among industry professionals. According to the Q2 2015 Barometer, more than two-thirds of home renovation firms reported 2015 year-to-date revenues and profits to be at or above pre-recession levels, with one in five firms or more reporting revenues and profits to be significantly higher.
“A large majority of home renovation firms on Houzz report a return to pre-recession revenues and profits, irrespective of industry segment or firm size," said Nino Sitchinava, principal economist at Houzz. “While industry confidence remains strong for the remainder of 2015, professionals tell us that the shortage of skilled labor continues to be a key challenge to growth.”
The Q2 2015 Barometer reflects steady optimism in market growth among professionals, with high index scores of 69* or higher in market confidence across all company types, in line with Q1 readings (71 or higher). Specialty building/renovation and specialty landscaping/outdoor firms report somewhat higher confidence relative to the start of the year (five to eight percent increase), while architecture firms report a slightly weaker outlook (four percent decrease). Market conditions are expected to remain strong into Q3, with scores of 69 or higher for all sectors.
Additional findings from the Q2 2015 Houzz Renovation Barometer include:
The full Houzz Renovation Barometer Q2 2015 report can be found here.
The Houzz Renovation Barometer study is conducted quarterly and presents analysis of responses to an online survey sent out to a national U.S. panel of architects, interior designers, general contractors/remodelers, design-build firms, and building/renovation and landscape/outdoor specialties. N=2690.
*The greater the index value relative to 50, the greater the proportion of firms reporting increases in quarterly business activity than those reporting decreases.
Houzz is the leading platform for home remodeling and design, providing people with everything they need to improve their homes from start to finish – online or from a mobile device. From decorating a small room to building a custom home and everything in between, Houzz connects millions of homeowners, home design enthusiasts and home improvement professionals across the country and around the world. With the largest residential design database in the world and a vibrant community empowered by technology, Houzz is the easiest way for people to find inspiration, get advice, buy products and hire the professionals they need to help turn their ideas into reality. Headquartered in Palo Alto, Calif., Houzz also has international offices in London, Berlin, Sydney, Moscow and Tokyo. Houzz and the Houzz logo are registered trademarks of Houzz Inc. worldwide. For more information, visit houzz.com.