Demographic Change and the Remodeling Outlook
Home improvement spending in the US is projected to see healthy growth over the coming decade, increasing from just over $220 billion in 2015 to almost $270 billion in 2025. Older homeowners will continue to lead remodeling activity, as they make investments that allow for aging in place. And as more millennials move into homeownership, their spending will boost the already thriving improvement market.
SOURCE: JCHS tabulations of US Department of Housing and Urban Development (HUD), American Housing Surveys and JCHS 2017 Remodeling Projections.
SOURCE: JCHS tabulations of HUD, American Housing Surveys.
SOURCE: JCHS tabulations of HUD, American Housing Surveys and JCHS 2017 Remodeling Projections.
SOURCE: JCHS and The Farnsworth Group, Survey of Remodeling Contractors, October 2016.
6.8% Average Growth Projection for Major Metro Areas
|10.0% and Over|
NOTES: Data includes the largest 50 metro areas ranked by population.
SOURCE: JCHS tabulations of Moody’s Analytics estimates; HUD, 2015 American Housing Survey; and US Census Bureau, 2015 American Community Survey.