Despite ongoing challenges in the housing market, the renovation sector continues to grow as homeowners choose to invest in their existing homes rather than move. High interest rates, limited housing inventory and strong home equity are encouraging people to stay put and upgrade instead. Industry forecasts show steady growth in remodeling spending through the next several years, driven by aging housing stock, adaptive reuse and homeowners seeking comfort, functionality and long-term value. Remodeling now represents a much larger share of residential construction than it did in the past.
Much of this renovation activity focuses on high-impact areas like kitchens, bathrooms and flooring, where upgrades improve daily living and home value. Homeowners are increasingly making targeted, room-by-room improvements rather than full remodels, often returning over time for additional updates. Flooring plays a central role because of its visual impact, durability needs and practicality. Manufacturers and suppliers are supporting this demand with innovative products, training and digital tools that help consumers visualize choices, streamline decisions and confidently invest in their homes for the long term.
