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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

Data Suggests Lower Income Households Prioritize Spending on Home Maintenance

Household spending on remodeling and maintenance expenditures changes as household income increases.Across all household income levels, maintenance spending increases by $2.29 for every additional ...

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Filed Under: Data Visualization, Featured, Home Services, Housing

Home Services is a $500 Billion Dollar Industry

This year we conducted a deep dive into the home service market to develop our own estimate of the total market size, distinguish the home services market from home sales and new home construction, ...

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Filed Under: Featured, Home Services, Market Analysis

Mapping The Drivers of Home Service Spending: Demographics

2020 marks the once in a decade arrival of the Census, where every individual in the United states is tallied by the U.S. Census Bureau. Capturing these demographic attributes of the population is ...

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Filed Under: Data Visualization, Economic Trends, Featured, Home Services

February Jobs Report – Construction Employment off to a Remarkable Start

February saw continued strength in the labor market, with an increase in total payrolls of 273,000, and specialty trade contractor and residential construction jobs growing by 26,000 and 10,000 new ...

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

These are the Most Planned Home Projects of 2020

Last year in our State of Home Spending report, we asked homeowners what are the top three projects they plan to complete in 2020. According to those homeowners, the top three most planned ...

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Filed Under: Economic Trends, Featured, Home Services

5 Things to Know about Potential Impacts of the Coronavirus on Trade and Remodeling

Executive Summary: The impact of the virus is going to hit different manufacturing areas in China with varying degrees of severityRemodeling and improvement products are manufactured in many other ...

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Filed Under: Economic Trends, Featured Tagged With: Coronavirus, Current Events, Exports, Trade

What the January Jobs Numbers Can Tell Us About Skilled Trades Going Into 2020

January was a banner month for job creation, our third best month in the last five years, but the overall broad performance of construction over the last decade is an important trend. It continues to ...

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Filed Under: Economic Trends, Featured, Jobs & Labor

2019 Monthly Job Creation

Two Important Lessons from Job Creation in 2019

December 2019 job creation was 145,000The unemployment rate remained unchanged at a very low 3.5%Construction employment's share of total employment ticked up to Source: Bureau of Labor ...

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Filed Under: Economic Trends, Jobs & Labor

A Powerful Close to 2019

This was a reassuring close to a year of reassuring jobs numbers. This was also our final major gut-check before the full swing of the holiday shopping season, and these numbers should be viewed as a ...

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Filed Under: Economic Trends, Jobs & Labor

The Biggest Trend in Housing Economics?

There are all sorts of ways to look at and understand the dynamics of ownership characteristics within the housing market: new houses under construction, new houses sold, existing houses sold, the ...

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Filed Under: Featured, Housing, Market Analysis

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