Houzz, a social media platform for home remodeling and design, released its 2025 State of the Industry study, which surveyed 1,537 U.S. residential renovation businesses. The study focused on a review of 2024 and the outlook for 2025.
In 2024, all seven construction and design sectors reported a decrease in revenue compared to 2023, marking the largest rate of decline in ten years. Most firms reported a drop in profits in 2024, with the cost of doing business increasing mostly due to higher product and material costs.
The study showed an overall positive outlook for 2025, with all groups anticipating revenue growth ranging from 7.1% to 12.4% and most expecting improved demand. Profits are also projected to rise despite expected higher labor costs and the continued lack of availability of skilled workers. See Houzz
