The Q3 2024 Houzz Renovation Barometer report for both the construction and architectural and design sectors signaled growth. 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 third quarter fell six points from Q2 to 52, while the Project Backlog Indicator was 7.6 weeks, a 5.4 weeks decrease from Q3 2023. The Recent Business Activity Indicator increased seven points from Q1 2024 to 52 in Q2.
Within the architectural and design sectors, the Q3 Expected Business Activity Indicator rose two points from Q2 to 60. The Project Backlog Indicator was 5.7 weeks at the beginning of Q3, 0.7 weeks shorter than the year-ago period, and the Recent Business Activity Indicator improved by seven points to 60 in Q2.
The Houzz Renovation Barometer results are determined by an online quarterly survey of U.S. architects and designers with a Houzz account. Scores over 50 indicate that a greater proportion of firms reported quarter-over-quarter increases than those reporting decreases. See Construction Barometer and Architectural and Design Barometer