What’s Driving Remodeling Growth?


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The Joint Center for Housing Studies of Harvard University found that the home remodeling market grew by more than 50% since the recession ended in 2009 to more than $424 billion. Nearly 70% of that market value is from homeowners making improvements or repairs to their own homes, as opposed to rental units.

[Related: New remodelers—Meet the homebuyers driving remodeling growth]

Myriad market forces are at work driving the increase in dollars spent on remodeling, according to the Joint Center’s “Improving America’s Housing 2019” report:

  • Many homeowners had to delay regular maintenance or repairs during the recession. Now they’re investing in their homes again.
  • Increasing housing prices are driving more people to purchase fixer-uppers and make repairs than to purchase new construction, especially younger people buying their first homes.
  • People 55 and older, who represent a greater share of homeowners and wealthier people, are investing in upgrades that allow them to stay in their homes rather than downsize.
  • More severe natural disasters around the country create an increased need for repairs and renovations following storms.


Colorado Builder
Colorado Builder
Colorado Builder content specialist


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