The Q4 2023 Houzz Renovation Barometer report for both the construction and architectural and design sectors signaled mixed results. 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 fourth quarter declined seven points from Q3 to 47, while the Project Backlog Indicator was 11.4 weeks, up 0.9 weeks from Q4 2022. The Recent Business Activity Indicator rose one point from Q2 to 44 in Q3.
Within the architectural and design sectors, the Q4 Expected Business Activity Indicator increased nine points from Q3 to 61, based on a rise in project inquiries and recently committed projects. The Project Backlog Indicator decreased to 6.1 weeks at the beginning of Q4, down 1.5 weeks from the year-ago period, and the Recent Business Activity Indicator grew nine points to 52 in Q3.
The Houzz Renovation Barometer is an online quarterly survey of U.S. architects and designers with a Houzz account from September 30, 2023, through October 12, 2023. See Construction Barometer and Architectural and Design Barometer