Wednesday, July 29, 2015

Houzz Reports Renovation Projects Returning to Normal Levels

Houzz recently asked professionals how revenues and profits were this year compared with pre-recession levels, and most responded that things are looking up. “A large majority of home renovation firms on Houzz report a return to pre-recession revenues and profits, irrespective of industry segment or firm size,” says Nino Sitchinava, principal economist at Houzz. 

With fall quickly approaching, seasonal patterns will likely cause a normal decline with landscape and other outdoor professionals, however they remain optimistic that the next season will see the current high levels maintained.  This is great news for professionals in this industry who have seen a downtrend in recent years. 

"This graph shows that for the third quarter in a row, there were quarter-over-quarter gains in business activity among nearly all the professional groups surveyed (a slight decline was reported by architectural firms). Basically, an index number higher than 50 means that more professionals reported an increase in business activity than those who reported a decline. The higher the number, the more the increase in activity."

It's also great for homeowners thinking about starting a new home renovation project.  The growth seen by industry professionals shows that homeowners are feeling more confident about the economy in general and beginning to spend again.  If you've been toying with the idea of starting a new remodeling project, now is the time to get started!

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