An increase in the number of residential remodelers between 2017 and 2022 of 25% has widened the gap between how many remodelers there are compared to how many residential builders, according to data from the National Association of Home Builders. Further analysis seems to support that the pandemic played a role in the increase of the remodel market as a report from Harvard’s Joint Center for Housing Studies demonstrated a dramatic rise in remodeling spending that remained above $600 billion despite leveling out after 2022. Nevertheless, some data from the Center suggests that the strong growth exhibited by recent years might fizzle out and the gap between remodelers and single-family builders might decrease by 2027.
Number of Remodeling Firms Outpaces Single-Family Builders in U.S.
