28 September, 2022

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Home » Do-It-Yourself Projects Fuel $419 Billion Home-Renovation Boom

Do-It-Yourself Projects Fuel $419 Billion Home-Renovation Boom

Photographer: Krisztian Bocsi/Bloomberg

The pandemic pushed Americans to spend on their homes like never before, tackling do-it-yourself projects with a newfound fervor after years of favoring contractors.

Total spending on home improvement and repairs climbed an estimated 3{77ce8f5c13f5afba9075485d3cf7c497b0ab33a4437bbe9a3594fe3360863398} last year to $419 billion, despite a slowdown in the broader U.S. economy, researchers from Harvard University’s Joint Center for Housing Studies said in a study released Thursday.

While that market has been increasing over the past decade, the composition of the spending changed markedly in 2020, as more people took on projects themselves and remodeling shifted away from the coasts to less-expensive areas inland.