The recently released Q2 2023 Houzz Renovation Barometer report for both the construction and architectural and design sectors signals 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 second quarter dropped two points from Q1 to 51, while the Project Backlog Indicator was 11.9 weeks at the start of Q2. The Recent Business Activity Indicator improved three points from 42 in Q4 2022 to 45 in Q1.
Within the architectural and design sectors, the Expected Business Activity Indicator for Q2 grew eight points from Q1 to 56, based on a rise in project inquiries and recently committed projects. The Project Backlog Indicator increased to 6.1 weeks at the beginning of Q2 and the Recent Business Activity Indicator dipped one point to 42 in Q1.
The Houzz Renovation Barometer is an online quarterly survey of U.S. businesses with a Houzz account from March 3, 2023, through March 24, 2023. See Construction Barometer and Architectural and Design Barometer