According to the results of the ninth annual Houzz & Home Survey of more than 87,000 U.S. respondents, Baby Boomers (born between 1946 – 1964), accounted for more than half of homeowners renovating their homes in 2019. The next largest share was ‘Gen Xers’ (born between 1965 – 1980), at about 30%. Overall home renovation interest remained stable year over year, with 54% of homeowners reporting a renovation project in 2019, and tackling nearly three interior rooms on average. Marine Sargsyan, Houzz senior economist, said “Following significant growth in home renovation activity over the past few years, we’re seeing the market settle somewhat in terms of scope and spend. That said, Baby Boomers, particularly those who have been in their homes for more than six years, are continuing to drive renovation activity and spend, bringing consistency to the market as they pursue projects that will allow them to age in place for the next decade or more.” Of note the Houzz & Home survey was fielded prior to the declaration of the coronavirus pandemic, between January 2 and March 5, 2020.
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Key Takeaways From the 2020 U.S. Houzz & Home Study