Remodeling and design professionals are reporting a fourth consecutive quarter-over-quarter increase in business activity in the second quarter of 2024, according to the Houzz U.S. Renovation Barometer.
“Third-quarter expectations are cautiously optimistic as pros navigate the current political and economic landscape, and face challenges related to costs and availability for labor, products and materials,” Houzz staff economist Marine Sargsyan said in a statement.
The Renovation Barometer provides data on expectations, project backlogs and recent activity among businesses in the U.S. construction and architectural and design services sectors.
Within Houzz’s data, its Expected Business Activity Indicator that tracks project inquiries and new committed projects increased to 60 for the third quarter, up from 58 in the second quarter.
Meanwhile, Houzz’s Recent Business Activity Indicator increased to 60, up seven points from the first quarter.
Scores are seasonally adjusted and marked on a scale of 0 to 100, with index values over 50 indicating a greater proportion of firms reported quarter-over-quarter increases.
The full Houzz report can be found here.
