QuestionPro Audience’s latest research report dives into homeowner spending behavior and renovation trends. The study provides an in-depth look into homeowners who plan to do an improvement project over the next twelve months, how much they’ll be spending, and if they plan to hire a contractor or DIY, among other insights.
Chicago, IL, April 27, 2018 — QuestionPro Audience, a division within QuestionPro that specializes in research and data collection, has released its latest research study: “2018 Home Renovation Report: Homeowner Trends, Spending and Priority Projects,” a look into homeowner renovation plans.
The 2018 Home Renovation Trend Report reveals that spending is on the rise, and women are taking the lead when it comes to conducting household renovations. 55% of homeowners plan to do at least one home improvement project over the next twelve months, up from the 38% who have conducted previous projects. Women in particular are looking to perform home improvements in the next twelve months, with 51% planning to spend between $1,000 and $5,000. What’s more, our study found that 54% of women are paying with cash, compared to 40% of men.
“Judging by our data, 2018 will be a profitable year for building supply stores (like Lowe’s and Home Depot) and general contractors,” said Rudly Raphael, President of QuestionPro Audience. “Our report shows that consumers are eager to complete projects they may have put off when the economy wasn’t as strong. They are optimistic about the year ahead, and are looking to spend money to increase the value of their homes.”
QuestionPro Audience’s latest study dives into homeowner spending behavior and renovation trends. The infopaper provides an in-depth look into homeowners who plan to do an improvement project over the next twelve months, how much they’ll be spending, and if they plan to hire a contractor or DIY, among other insights.
To view the infopaper, visit: https://www.questionpro.com/audience-home-renovation-report.html
For more information about QuestionPro Audience, visit: questionpro.com/audience
QuestionPro Audience provides our clients with access to millions of active respondents, including our General Contractor panel. Our General Contractor panel offers unparalleled value by providing big box stores, such as Lowe’s and Home Depot, a front row seat with professional home builders and industrial contractors. It is one of a handful in the continental U.S. and consists of more than 80,000 highly engaged, pre-screened general contractors who provide critical insights. With industry knowledge, innovative tools, and purchasing power, QuestionPro Audience always meets the rigorous demands of our clients.
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