Backlogs in the construction sector were at a record-high of 13 weeks at the beginning of the third quarter of 2023, according to the Q3 2023 Houzz Renovation Barometer. Construction backlogs increased by 2.5 weeks compared with the same period last year.
“In the construction industry, both build-only and design-build professionals have a favorable outlook on anticipated business performance,” Houzz stated. “Build-only remodelers anticipate an increase in business activity in Q3 (54 compared to 50 in Q2), while expectations among design-build firms remains the same for Q3 at 53.”
Project inquiries and new committed projects in the construction sector declined slightly from the second quarter of 2023, however.
The full Houzz report can be found here.
