The U.S. market for home improvement and repair is now well over $400 billion annually as the housing stock faces pressure to meet the nation’s growing and changing housing needs. Years of rising costs of new construction mean a growing number of vacant and rental units are now filling demand for homeownership, and these converted units often require substantial investments in renovation and repair. This and other key trends in the remodeling industry are highlighted in the 20th anniversary Improving America’s Housing report.
Joint Center for Housing Studies of Harvard University
March 12, 2019