Remodeling and Design Firms Optimistic About End-of-Year Activity
Firms expect more inquiries and new projects heading into 2025
Oct. 24, 2024
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Home renovation professionals expect to see more jobs in the next quarter and beyond.
Home remodeling and design professionals are feeling optimistic heading into 2025, with business expected to grow rather than decline in the final quarter of the year. According to the Q4 2024 Houzz Renovation Barometer, construction firms expect more project inquiries and new projects, reflected in a 10-point rise—from 52 to 62—in Houzz's business activity indicator. Similarly, architectural and design firms saw an 11-point increase from 60 to 71 in Houzz's indicator.
“Business activity slowed in Q3, especially in the construction sector, with fewer project inquiries and commitments compared with Q2,” Houzz staff economist Marine Sargsyan says. “However, the outlook for Q4 is more positive, especially among architectural and design firms, driven by anticipated economic growth, declining interest rates and larger project budgets. Those anticipating gains cite these favorable conditions, while others remain cautious due to economic uncertainty, current interest rates and tighter budgets. The broader political environment, including uncertainty around upcoming elections, also adds to the industry’s caution.”
