Joint Center for Housing Studies Expects Do-it-Yourself Uptick to Slow and Return to Normal Levels

There has been a surge in do-it-yourself (DIY) home improvement projects since the start of the pandemic. With extra time on their hands and savings destined for vacations and trips that are now on hold, homeowners have used that time and money to take on projects to adapt their homes to their new lifestyles. However, a recent study conducted by the Joint Centre for Housing Studies (JCHS) of Harvard Universities suggests that while the home improvement market will continue to remain strong, the surge in DIY activity is likely to fade and return to more normal levels. According to the JCHS analysis of the American Housing Survey, the increase in DIY activity during the pandemic is at odds with a longer-term trend of a declining DIY share of homeowner spending on home improvement projects. In fact, in recent years, fewer than one in five dollars spent annually on home improvement projects (as opposed to more routine maintenance and repair) were for a DIY project.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Original Source: