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…
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JCHS study points to massive repair demand
New analysis of the American Housing Survey (AHS) from the Harvard Joint Center for Housing Studies (JCHS) indicates that homeowners struggle to maintain their aging homes. As the nation’s housing stock sits at an average of 42 years old, home maintenance is necessary to keep residences comfortable and functional. As 29% of low-income homeowners live in houses built before 1960, the maintenance repairs often required of older homes, such as roofing, siding, windows, insulation and HVAC, are more costly than cosmetic remodeling. “Regardless of building age, higher-income homeowners consistently outspend…
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