Home improvement continue to be top of mind for homeowners, but financial pressures are influencing how they are prioritizing which projects to complete, and how much to spend on each project in 2023. May 2023 data from HIRI's Home Improvement Quarterly Project Tracker and Homeowner Home Improvement Monthly Tracker tell the story of which kinds of projects are shrinking and expanding in importance to homeowners. Here's what homeowners are reporting in the data:
We consolidated data on residential hardware and extrapolated habits among consumers and Pros. These insights include the primary reasons why they choose to purchase various kinds of hardware, such as door locks, gate hardware, decorative hardware, and fasteners. Here are the top hardware purchase trends to note:
We consolidated data on residential window purchases and extrapolated habits among consumers and Pros. These insights include the primary reasons why they choose to purchase windows, when start to consider the purchases compared to when the purchase is dollarized, and the popularity of various window materials and types.
We consolidated data on homeowners’ previous interior and exterior paint projects and extrapolated habits among consumers and Pros including why they start a painting project, when they start it, and how they go about purchasing materials necessary to complete the project. Here are some trends to note:
View consolidated data on homeowners’ bathroom remodeling projects completed compared to what projects they intended to start. Here are some trends to note:
Compared to experienced home buyers, first-time home buyers are more likely to search for inspiration and project information through social media. How does this impact industry professionals’ marketing efforts? Let's take a closer look:
As homeowners prepare for holiday guests, more people plan on renovating kitchens and baths, living rooms and dens. Find out what this means for industry professionals and how they can capitalize on these trends — download our infographic to learn more!
What purchase categories saw the largest growth in sales? Did the consumer or professional market see the biggest increase in sales? Download our infographic to learn more.