Homeowners plan to scale back or cancel home renovation projects as tariffs continue to cause economic uncertainty, according to a new study from the home construction data publication Zonda.
The study reports 27% of larger projects, such as kitchen remodeling, could be impacted, with about 20% of smaller projects scaled back, delayed or cancelled.
“Consumers are more price-sensitive since mid-2024,” Zonda’s Building Product Specialist Todd Tomalak said in a statement. “That’s due to depleted pandemic-era savings, higher debt service payments and mortgage rate increases. Homeowners have finite money, and rising costs in one product can spill over into reduced spending on other products, even if those products have no direct tariff exposure.”
Read the full Zonda report here.
