Houzz Releases 2020 Renovation Trends Report
Houzz recently released its 2020 U.S. Houzz & Home Study: Renovation Trends report, which surveyed over 87,000 U.S. homeowners about renovations completed in 2019 and future investments planned for 2020.
Baby boomers and Gen X homeowners accounted for 85% of those renovating homes in 2019, up 2% from 2018. Consistent with 2018, kitchens continued to be the top choice for renovations last year. The study reported that 26% of homeowners made kitchen improvements, followed by guest baths at 24% and master baths at 20%. Of those surveyed, 10% were adding a home office. Median spending for kitchens dropped $2,000 from 2018 to $12,000 in 2019, while master bathroom renovation spending held steady at $8,000.
Follow-up surveys during the Covid-19 pandemic revealed that over 50% of homeowners involved in a renovation when the pandemic began continued their renovations. Repairs and renovations are predicted to increase later in 2020 due to a backlog of projects put off by homeowners due to the virus. See Houzz