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News & Press: HIRI News

Project and Sentiment Tracking 4Q 2017 Highlights

Wednesday, November 8, 2017   (0 Comments)
Posted by: Matthew Craig

 

The latest installment of HIRI's Project and Sentiment Tracking Study covering the fourth quarter of 2017 is now available. This long-running quarterly tracking study examines not only the intentions of homeowners to start a home improvement project within the next three months, but also their attitudes towards home improvement in general and life events that may be affecting their decisions.

 

Key Highlights:

 

  • Project planning incidence picked back up after a couple consecutive quarters of dropping year-over-year. While there does show tiny drop in planning incidence from this quarter in 2016, it is such a small drop, and well within the margin of error, leaving this year flat from last year. 
  • A geographic look at project planning incidence, the Northeast and South are still showing strong levels. The West saw a big drop compared to last year, but still has a planning incidence of more than 70%. The real laggard continues to be in the Midwest, where lower planning rates continued to drop 
  • 2017 has been a strange year when it comes to planning incidence. It has most certainly deviated from the previous years trends, especially around the seasonality of projects. The abnormal weather could be a factor, or even the higher tension political climate could be factors. We will keep tracking these to discover if this was just an oddity this year, or the start of a new trend when it comes to project planning. 
  • Attitudes towards projects remain quite strong, and are actually improving on the higher rated attitudes. Those who have strong, positive attitudes towards homeownership pride and appearance tend to be the ones taking on a larger number of projects; constantly trying to improve their home.
  • DIY projects are relatively dependent on what type of project is being planned. On average, a little more than half of all projects are done DIY, and we have seen a slight increase from last quarter on percentage of those doing project DIY.

 


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