Home makeover

Home makeover

06-12-2021 | Daily sketch

When the Covid-19 pandemic hit in March last year, the shutdown in non-essential activities halted professional home renovations. But the home remodeling market bounced back quickly as many homeowners started do-it-yourself projects, while outdoor professional work was deemed safe. In 2020, the home remodeling market grew 3% to USD 419 billion and is expected to have grown another 3% in 2021, according to the Harvard Joint Center for Housing Studies. 

The pandemic spurred a variety of housing and lifestyle changes that encourage improvement spending. Homeowners needed to make space to work from home and help their children with remote learning. Meanwhile, many urban renters decided to move to communities outside the city in search of more space and lower housing costs. Also, given today’s low mortgage rates, many renters became first-time owners, a change that typically prompts a new cycle of home improvement projects. 

Source: Harvard Joint Center for Housing Studies, 2021.

Get a unique take on a current trend delivered to your mailbox every day.
Subscribe now

It is said that a picture paints a thousand words. Robeco’s Trends Investing team monitors markets closely. Every morning our trends experts collect the most relevant and intriguing graph or chart for you and present it with their commentary in the Daily Sketch. All graphics provided are collected from Bloomberg data or other public websites. They do not necessarily reflect the opinion of Robeco. Please cite all references or quote the original source if replicating content.
More about Trends Investing.

Gerelateerd aan dit artikel:


De informatie op deze website is uitsluitend bedoeld voor professionele partijen. Een professioneel belegger is: een belegger die beroepsmatig over voldoende kennis, deskundigheid en ervaring beschikt om de financiële risico’s van de zelf genomen beleggingsbeslissing(en) adequaat in te schatten.

Bezoekers van deze website dienen zich ervan bewust te zijn dat zij zelf verantwoordelijk zijn voor naleving van alle in hun eigen land geldende wetten en voorschriften.

Door op Akkoord te klikken, bevestigt u dat u een professionele belegger bent. Indien u op Niet akkoord klikt, wordt u doorverwezen naar de omgeving voor particulieren.

Niet akkoord