Every quarter, the Houzz research team surveys pros like you to find out real-world info on business activity and much more. More than 10 years of conducting Renovation Barometer research has given us a significant understanding of industry trends, and you can check out our insights in video as well as written form. This video covers recent and expected business activity plus average project wait times for two reporting groups in the construction sector — design-build pros and build-only pros — for the third quarter of 2024. Below, we share a sneak peek.

The Q3 2024 U.S. Houzz Renovation Barometer was fielded from June 29 through July 9, 2024, and garnered responses from 153 build-only remodelers and 362 design-build remodelers (n=515 in the construction sector). See the detailed methodology here.    

Watch the video

Recent Business Activity

The Recent Business Activity Indicator for the residential construction industry tracks actual business activity — project inquiries and new committed projects — in the most recent quarter. For this Q3 2024 report, the indicator covered activity in Q2 2024. 

Both groups reported an improvement in business activity compared to Q1; in fact, the indicator score for the current period “marks the first positive shift reported since Q3 2022,” Houzz chief economist Marine Sargsyan says. To see the exact score increases by activity category and remodeling group type, click here.

Project Backlogs

This info is based on survey questions that ask businesses to report wait times (in weeks) to start work on a midsize project. And again, at the start of Q3 the trend is positive: There has been a “significant decline in wait times” on average year over year, Sargsyan says.

However, project backlogs aren’t the same for the design-build and build-ony sectors; backlogs also vary significantly by geographic location. In one region, for example, the average wait time for both sectors taken together is half of what it is for another region. Find out the average for your region and compare it to the national average by seeing all the specifics in the video.

Expected Business Activity

The Expected Business Activity Indicator is based on pros’ projections for project inquiries and new committed projects in the current quarter. For Q3 2024, pros in both remodeling groups expect improvements overall compared with Q2. Find out their exact level of optimism by category and group — as well as the overall health of the industry and what ongoing challenges are currently top of mind — in the report: Q3 2024 Houzz Renovation Barometer for the construction industry

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