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In the fourth quarter of 2021, 76 per cent of homeowners in the USA planned a home improvement project for this period. In the survey by Home Improvement Research Institute (Hiri), which has been carried out since 2012, this is a record value for the usually weaker fourth quarter.
"Many industry onlookers expected project growth to slow significantly or even reverse slightly as much of the US recovered from the pandemic in 2021. However, that has not been the case," the market researchers recorded. They say that possible reasons could be carry-over demand from 2020 as homeowners are now planning projects they never got around to or were previously delayed by contractor timelines, in addition a booming housing market as well as a high number of unfinished homes on the market.
The Hiri survey identified the field of maintenance and repair as top motivator for the project.
However they explain that there is a discrepancy between planned and completed DIY projects which is also a sign that that projects planned to be done professionally often either end up being done DIY or do not get done at all.
"Many industry onlookers expected project growth to slow significantly or even reverse slightly as much of the US recovered from the pandemic in 2021. However, that has not been the case," the market researchers recorded. They say that possible reasons could be carry-over demand from 2020 as homeowners are now planning projects they never got around to or were previously delayed by contractor timelines, in addition a booming housing market as well as a high number of unfinished homes on the market.
The Hiri survey identified the field of maintenance and repair as top motivator for the project.
However they explain that there is a discrepancy between planned and completed DIY projects which is also a sign that that projects planned to be done professionally often either end up being done DIY or do not get done at all.
