Do-it-yourself (DIY) was widely marketed as an easier alternative to hiring a professional; however, that segment of improvement spending is on a steady decline.
The Harvard Joint Center for Housing Studies (JCHS) reported that DIY spending made up about 26.9% of the market in 2003. That segment declined to about 15.9% in 2023.
Looking at a more recent time frame, from 2021 to 2023, spending increased by 14% for professional projects, while DIY spending dropped 13%.
Spending also declined for the most DIY ambitious age group: homeowners under 35. This JCHS study reported that DIY spending for this demographic declined about 16% from 1995 to 2023.
Researchers at JCHS note that broader demographic and industry trends such as the aging housing stock, aging homeowners, the rise in home equity and the increased complexity of technology in homes together drive this shift.
While homeowners will likely continue to DIY small projects like painting a room, there are more opportunities for home renovation pros and contractors.
