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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

BLS July

A Lesson from the July Jobs Report: Consider a Career in the Trades

Where does the economy stand with Covid-19 Delta variant cases spiking, inflation higher than expected, and the housing and home services markets continuing to boom? If July’s labor market report ...

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Filed Under: Economic Trends, Jobs & Labor

The Home Services Market Just Grew 17% Year Over Year

Over the last year, construction and remodeling prices increased, the shortage of skilled labor remained and consumers pivoted their spending to the home. But what did the unexpected impact of ...

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Filed Under: Featured, Home Services, Market Analysis

Residential Trades Employment is Already 4% Higher than the Start of the Pandemic

Residential building jobs, which track closely with home service employment and act as part of the training pipeline for new home service workers, are now up 4% since the start of the Covid-19 ...

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Filed Under: Economic Trends, Jobs & Labor

The Remarkable Gap Between Spending Growth and Employment Growth in Housing

February employment growth bounced back to a relatively strong 379,000 net new jobs gained month over month, and the national unemployment rate dropped to 6.2%, a level lower than the average post ...

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Filed Under: Housing, Market Analysis

How Did Remodeling Prices Change in 2020? The True Cost Report is Back

As the 2021 remodeling season gets underway, we’re relaunching our True Cost Report from years past, with a specific focus on 1) What common projects cost, 2) what causes total cost to rise or fall 3) ...

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Filed Under: Featured, Home Services

Do We Need A Permanent Shift in Service Employment?

Employment in January grew by a disappointing 49,000 new jobs to a total of 142.6 million. Average monthly job growth absent a global pandemic would typically be 300-400% higher and average job ...

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Filed Under: Economic Trends, Featured, Jobs & Labor

The Recovery Stalls, But Not For Housing

December was a disappointment for job growth across the economy with total payrolls dropping for the first time since the start of payroll employment recovery in May. The 1% job loss means the ...

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Filed Under: Economic Trends, Featured, Jobs & Labor

2020 State of Home Spending: The Year of the Home

Key Takeaways HomeAdvisor’s new 2020 State of Home Spending report is now availableSpending increased across the board for improvement, maintenance, and repair driven in part by rising labor and ...

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Filed Under: Featured, Home Services

The Skilled Trades in America: New Insights & Research

Today our research team released Skilled Trades in America, a report that examines America’s home service professionals and identifies the ways in which the industry can strengthen, grow, and ...

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Filed Under: Featured, Home Services, Jobs & Labor

What 2020 New Home Construction Could Tell Us About the 2021 Remodeling Season

Key Takeaways New home construction took a hit in April, with starts falling 30%.New home permits and new home starts lead new home completions by 6-12 months, which will potentially boost ...

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Filed Under: Economic Trends, Featured, Home Services, Housing Tagged With: Forecast, New Home Construction, Remodeling

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