The construction sector had its highest level of activity in the third quarter of 2020 in two years, according to the latest Houzz Renovation Barometer.
The construction sector’s Recent Business Activity Indicator, which relates to project inquiries and new committed projects, increased to a level of 75 during the quarter, compared with 49 in the second quarter. The third quarter of 2018 showed a level of 77 on the indicator.
“The results from the Houzz Barometer show that the home remodeling and design industry is truly resilient, and is seeing business activity return to pre-pandemic levels,” stated Marine Sargsyan, Houzz senior economist. “Home professionals have a positive outlook through the end of the year, despite unprecedented uncertainty due to the pandemic and the upcoming election, increasing supply chain constraints as well as shortages in the labor market. Pros are taking on new clients remotely using online tools and collaboration platforms, continuing the momentum from the recent quarter.”
