Houzz and Home Study 2018 Webinar, Now Available

by Patrick OToole

EVANSTON, Ill. —A recording of the recent Qualified Remodeler/Kitchen & Bath Design News webinar featuring new renovation trends from Houzz.com is now available online. The webinar, which was presented Aug. 23 by Houzz’ VP of Community Liza Hausman, offered a bullish outlook from the standpoint of Houzz professionals.

It also offered an update of major industry trends, specifically:

Home Renovation Boom Continues: Half of homeowners on Houzz plan to begin or continue renovations in 2018 (51 percent), with a median planned spend of $10,000. Renovation activity and spend were strong in 2017, extending the boom of 2015 and 2016, with 58 percent of homeowners renovating their homes, at a median spend of $15,000. While homeowners who have lived in their current homes for six or more years drive the majority of renovations, activity among recent homebuyers is growing.

Kitchens and Bathrooms Lead Activities and Spend: The median spend on kitchen remodels increased 10 percent year-over-year in 2017, while master bathrooms overtook living/family rooms as the third-most-popular room to renovate, after kitchens and guest/other bathrooms. Four in five renovating homeowners report that kitchen and master bathroom upgrades increased the value of their homes (83 percent and 81 percent, respectively), far more than any other renovation project (48 percent to 76 percent).

Planning is More Deliberate: Homeowners have become more deliberate in planning for renovations, as reflected in budgeting, project and hiring trends. For example, homeowners were 12 percent more likely to set a budget in 2017 (77 percent) than in 2015 (69 percent). Similarly, homeowners are increasingly more likely to tackle multiple preventative projects at a time, such as home systems and exterior features upgrades, and to hire specialists to complete them.

Renovation Spend Jumps in Houston and Los Angeles: Reflecting the impact of the 2017 Atlantic hurricane season, median spend on renovations in the Houston metro area increased 60 percent year-over-year, making it the fourth-highest spend among U.S. metros ($24,000). The Los Angeles metro area, tying for the second-highest spend at $25,000, saw the second-largest spending increase (25 percent), likely in part a reflection of the damage caused by wildfires. Renovations triggered by natural disasters increased to 6 percent in 2017 from 4 percent in 2016.

Download the Full Report

The webinar was sponosred by James Hardie, Caesarstone and Wellborn Cabinet. |QR

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