This robust demand for services indicates that wait times for projects to begin will get longer and that project timelines will shift and grow, resulting in sustained demand for these professionals. Wait times are already a month longer than a year ago at 9.3 weeks for construction professionals and 8.4 weeks for architecture and design professionals. Pent-up demand for services is one of the main reasons that 2021 looks like a standout year for the industry.
Houzz research also shows that not only are current project inquiries increasing, but industry professionals’ confidence in the future is incredibly strong. Some 65% of interior designers believe that business will improve in 2021, compared with only 7% who believe business will worsen. This sentiment is broadly similar across both the construction and design industries, with professionals who believe business will improve ranging from 58% to 68% and those who believe business will worsen ranging from 5% to 10%.
“Following a strong end of year, where confidence among residential and design businesses recovered to pre-pandemic levels, in Q1 2021 businesses are faced with soaring homeowner demand," said Marine Sargsyan, Senior Economist, Houzz. "Despite headwinds related to lengthy permitting timelines, supply chain constraints, increased raw material costs and long standing labor shortages, businesses are confident in their performance in the year ahead."