Despite the rising costs of building supplies and a decrease in workers, the demand for home renovations is expected to increase in 2022.
Approximately 6 million homes were sold in 2021, the highest number in 15 years. It is estimated that three-quarters of American homeowners will consider at least one home improvement project in 2022, either because they want to customize their new home or because they want to improve their existing home rather than purchase a new one at an increased cost.
The home improvement industry has seen steady growth for the past five years, even prior to the most recent housing boom. Home renovation spending is predicted to increase by 9% in the first quarter of this year, and then continue to increase by 8.8% in the…
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