More than half of residential construction and design companies anticipate 2023 will be a “good” or “very good” year for business, according to the 2023 U.S. Houzz State of the Industry.
Construction businesses surveyed anticipated growth of less than 3% for 2023.
Of the 56% of companies predicting a favorable year, interior designers were the most optimistic. More businesses expect an increased demand in services, although businesses across all industry sectors “anticipate much slower revenue growth than they experienced last year,” according to the survey results.
Most businesses also anticipated an increase in the cost of doing business compared with last year’s Houzz survey. Also compared with last year, fewer businesses are concerned about product availability.
