The Q1 2024 Houzz Renovation Barometer report for both the construction and architectural and design sectors signaled improvements. The Barometer tracks residential renovation market expectations and recent business activity in the construction and architectural design services industries.
Within the construction sector, the Expected Business Activity Indicator for the first quarter increased 10 points from Q4 2023 to 57, while the Project Backlog Indicator was 6.7 weeks, shrinking 1.6 weeks from Q1 2023. The Recent Business Activity Indicator rose four points from Q3 2023 to 48.
Within the architectural and design sectors, the Q1 Expected Business Activity Indicator gained five points from Q4 2023 to 66, based on additional inquiries and recently committed projects. The Project Backlog Indicator was 5.2 weeks at the beginning of Q1, a decrease of 0.1 weeks from the year-ago period, and the Recent Business Activity Indicator grew two points to 54 in Q4 2023.
The Houzz Renovation Barometer results are determined by an online quarterly survey of U.S. architects and designers with a Houzz account. See Construction Barometer and Architectural and Design Barometer