Project Wait Times Return to 2021 Levels Across Home Renovation Industry
The 2022 Q3 Houzz Renovation Barometer looks at second-quarter residential renovation market expectations, project backlogs and recent business activity among construction, architectural and design firms, based on responses from 1,151 small businesses on Houzz. The survey was fielded June 30, 2022, through July 11, 2022.
The latest Backlog Indicator finds an average wait time of 10.5 weeks to start a new midsize project for the construction sector, a return to similar wait times from a year ago. This is a significant change from the 2022 Q2 Houzz Renovation Barometer, which recorded the longest project wait time for construction pros (12 weeks) since the Backlog Indicator was added to the Barometer in 2017.
Project wait times are also easing for architects and interior designers. The average wait time to start a new midsize project in this sector has dropped three quarters in a row and now stands at 7.5 weeks.
Read on to find out more about what remodeling industry firms are saying about current business conditions. We’ll look first at construction companies and then at architectural and design firms. We’ll start with what these firms expect for the next three months, then look at their project wait times. Last, we’ll review their business activity over the previous three months.
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