The Q4 2024 Houzz Renovation Barometer reports growing optimism among home remodeling professionals, despite a slowdown in Q3 business activity. According to Houzz, construction and design-build firms expect stronger project inquiries and commitments in Q4, with the Expected Business Activity Indicator increasing by 10 points.
Lower interest rates and anticipated economic growth drive this positive outlook, though concerns about economical and political uncertainty linger. Backlogs have also slightly shortened for construction firms, averaging 10.5 weeks, while design-build firms report longer wait times than a year ago.
