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Economics & Research

Home Services Market Statistics

$657B
Size of the
Home Service Market

$3,018
Average Home
Maintenance Spending

$10,341
Average Home
Improvement Spending

143.3 M
Housing Units in
the US, Q2 2022

Latest

New Report Finds Nearly 90% of Skilled Tradespeople are Satisfied in Their Careers

Angi surveyed 1,200 skilled trade professionals for the 2024 Skilled Trades in America Report. This insightful report offers an in-depth view of skilled trade professionals’ attitudes, challenges, ...

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Filed Under: Featured, Jobs & Labor Tagged With: Construction Employment, Jobs Report, Trade

U.S. Homeowners Double Down on Home Improvement Spending in 2023

The annual “State of Home Spending” report shows increased spending on home improvement projects in 2023 and explores key home improvement trends Overall spend on home improvement grew 6% to ...

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Filed Under: Economic Trends, Featured, Home Services, Housing, Jobs & Labor, Market Analysis Tagged With: home improvement spending, Home improvement trends, home services spending, Report

What Will Mortgage Rates Do Next? History Offers Some Clues

Key Takeaways: This is the first time in over 40 years that mortgage rates – after controlling for inflation -  have been negative.Inflation is 9.1%, nearly twice as high as 5.5% mortgage ...

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Filed Under: Economic Trends, Featured, Housing

What’s Next for Inflation? 4 Things Skilled Trades Pros Need to Know

Key Takeaways: Inflation varies a lot depending on the product, even with the same category of projects. For example, since the onset of the pandemic asphalt shingle prices have increased 8%, while ...

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Filed Under: Economic Trends, Featured, Home Services

Update: Now Continues to be the Least Affordable Time to Buy a Home in Recent History

As interest rates for mortgages continue to rise, so does the comparative advantage of staying in place and remodeling vs. buying a new home. Key Takeaways: Controlling for hourly wage rates, a ...

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Filed Under: Economic Trends, Featured, Housing

Residential Trades Employment and Wages are Both Up Despite Shrinking GDP

Key Takeaways Even though real GDP contracted in the first quarter triggering recession fears, residential specialty trades contractor employment stayed even month over month and is 5% higher than ...

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Filed Under: Economic Trends, Featured, Jobs & Labor

Now Is the Worst Time to Buy a Home in the Last 15 Years

Key Takeaways 30-year mortgage rates rose to 5.11% for the first time in over a decade The combined cost of a home – base price and mortgage rate – has produced the highest lifetime cost on ...

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Filed Under: Economic Trends, Featured, Housing

The Reason Why Sustainable Housing Must Be Led by Renovators and Remodelers

Key Takeaways: There are 143 million existing housing units in the country, while the production rate of new homes is only 1.3 million homes per year.If all the productive capacity of new home ...

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Filed Under: Data Visualization, Featured, Housing

Home SPending

20% Growth in 2021 Home Service Spending as Americans Adjust to a New Normal

Angi’s 2021 State of Home Spending Report finds 20% year-over-year growth in home services spending. This week we released our annual report examining the behavior of households spending on ...

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Filed Under: Economic Trends, Featured, Market Analysis

The Skilled Trades in America: How the Great Resignation Could Provide Great Opportunity for the Skilled Trades

Today we launched the second annual edition of our flagship report The Skilled Trades in America. This original research provides a deep dive into the trade labor shortage, job satisfaction in the ...

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Filed Under: Featured, Jobs & Labor, Market Analysis

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