According to a nationwide survey conducted by Arlington, Texas-based marketing research and analytics firm Decision Analyst, it was found that 78% of American plan to upgrade their homes over the next 12 months.
Decision Analyst surveyed about 1,000 consumers about their home improvement plans as part of its ongoing study of consumer trends.
“Despite being squeezed by inflation, many consumers see themselves upgrading or adding to the comfort of their homes over the course of the next year,” said Decision Analyst Executive Vice President Felicia Rogers.“People’s homes are important to them and, even when funds are tight, they still want to spruce up their living spaces.”
According to Kitchen & Bath Design News, key findings are:
- 78% of respondents said they are planning improvements over the next 12 months, down 3% from March 2022.
- 41% of respondents plan to upgrade kitchens or bathrooms.
- 39% plan home-wide improvements to features such as lighting, flooring, doors, windows and window treatments.
- 19% plan to upgrade or add smart-home technology, such as internet/app-enabled systems or appliances.