U.S. improvement and repair expenditure from 2001 to 2015 (in billion U.S. dollars)

U.S. housing market - improvement and repair expenditure 2001-2015 The statistic shows improvement and maintenance expenditure spent on both owner-occupied homes and rental units in the United States from 2001 to 2015. In 2015, US improvement and maintenance expenditure came to 340 billion US dollars.
Home improvement in the U.S. – additional information

Home improvement is the process of remodeling or repairing one’s home. Renovations can range from painting the exterior or interior of the home to replacing the entire plumbing system. The American home improvement industry has seen huge growth since the mid-1990s. It contracted after the property bubble burst and the global financial crisis began in 2008, but stabilized in 2011 and has been steadily increasing in size ever since.

Affluent households are more likely to remodel their homes than poorer households, because it can be a costly undertaking. Households with incomes of 200,000 U.S. dollars or more hired more interior designers during 2016 than households with incomes of 100,000 U.S. dollars or more did. Homeowners often put the extra money from refinancing their home towards improving their homes.

Home improvements are often carried out when preparing to sell a home, but some renovations are considered more critical than others. In a 2014 survey, homeowners were more likely to paint inside their home than outside when preparing to sell their home. However most respondents said that making small repairs to their home was the most critical investment.
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Expenditure in billion U.S. dollars
2015340
2013304
2011284
2009277
2007318
2005289
2003232
2001217
Expenditure in billion U.S. dollars
2015340
2013304
2011284
2009277
2007318
2005289
2003232
2001217
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Description Source More information
The statistic shows improvement and maintenance expenditure spent on both owner-occupied homes and rental units in the United States from 2001 to 2015. In 2015, US improvement and maintenance expenditure came to 340 billion US dollars.
Home improvement in the U.S. – additional information

Home improvement is the process of remodeling or repairing one’s home. Renovations can range from painting the exterior or interior of the home to replacing the entire plumbing system. The American home improvement industry has seen huge growth since the mid-1990s. It contracted after the property bubble burst and the global financial crisis began in 2008, but stabilized in 2011 and has been steadily increasing in size ever since.

Affluent households are more likely to remodel their homes than poorer households, because it can be a costly undertaking. Households with incomes of 200,000 U.S. dollars or more hired more interior designers during 2016 than households with incomes of 100,000 U.S. dollars or more did. Homeowners often put the extra money from refinancing their home towards improving their homes.

Home improvements are often carried out when preparing to sell a home, but some renovations are considered more critical than others. In a 2014 survey, homeowners were more likely to paint inside their home than outside when preparing to sell their home. However most respondents said that making small repairs to their home was the most critical investment.
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Release date
February 2017
Region
United States
Survey time period
2001 to 2015

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