Households turned negative on home improvement spending for the first time in five quarters. 30% of homeowners now plan to spend less on home improvement over the next 12 months, versus only 27% who plan to spend more. This represents a reversal from Q1's even split.
Only 38% of homeowners completed a home improvement project in the last 90 days, the lowest share in five quarters. Simultaneously, average spend among those active households nearly doubled in a single quarter.
Sentiment worsened across all project cost categories in Q2. For projects under $5,000, more homeowners called it a bad time to start than a good time for the first time in five quarters, 34% versus 32%. The $5,000 to $25,000 bracket posted a four percentage point increase in negative sentiment. Positive sentiment toward $25,000-plus projects softened, decreasing by a three percentage points.
Even as fewer homeowners started new projects this quarter, more pushed further into the planning pipeline. Quote requests rose from 17% to 20%, and that momentum carried through to an actual bid for a growing share of households, a clear sign of progress.
The share of homeowners planning no project of $5,000 or more over the next year climbed to a statistically significant five-quarter high this quarter, rising four percentage points.
Understanding the dynamic landscape of home improvement is crucial for businesses and researchers alike. This study aims to gain insight into homeowners’ attitudes and motivations driving home improvement initiatives, shedding light on the recent activities they have undertaken within the last 90 days and planned activities in the next 90 days. You will see detail on project activity by areas of the home, product categories purchased, where products were purchased and more.
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