The Q3 2020 Houzz Renovation Barometer tracking residential renovation market expectations and recent business activity in the construction and architectural design services industries was recently released. Almost all of the survey’s indicators showed that business rebounded to pre-pandemic levels.
Within the construction sector, the Q3 Expected Business Activity Indicator increased 57 points from Q2 to 75, while the Project Backlog Indicator rose to 6.2 weeks compared to 4.9 weeks in the year-ago period. Looking back to Q1, the Recent Business Activity Indicator increased 1 point to 49, which is a result of higher project inquiries but lower new committed projects.
Within the architectural and design sector, the Expected Business Activity Indicator for Q3 increased 32 points from Q2 to 67, while the Project Backlog Indicator rose to 4.5 weeks. Looking back to Q1, the Recent Business Activity Indicator increased 4 points to 48.
The Houzz Renovation Barometer is an online quarterly survey sent to U.S. businesses with a Houzz profile. The Q3 surveys garnered responses from more than 2,000 home improvement-related businesses between June 27, 2020 through July 10, 2020. See Houzz