Home Improvement - Statistics & Facts

Home Improvement - Statistics & Facts

Statistics and facts about Home Improvement in the U.S.

Building and renovating homes involves general contractors and subcontractors who build new homes and remodel existing homes. Home renovation projects also encompass the remodeling of external structures such as gardens, garages, and lawns. It was estimated that U.S. improvement and repair expenditure amounted to about 326.1 billion U.S. dollars in 2015. Homeowners undertake home improvement to make residential properties more comfortable, upgrade air conditioning and heating systems, waterproof roofs and basements, soundproof rooms, and to extend their homes and boost energy savings. In 2014, home improvement stores in the United States generated a revenue that amounted to about 144 billion U.S. dollars. According to J.D. Power, the leading home improvement store chain in the United States was Ace Hardware, with a customer satisfaction rating of 810 (based on a 1,000 point scale). In 2014, Ace Hardware had a global revenue that amounted to approximately 4.7 billion U.S. dollars.

Consumer demand for environmentally friendly products, along with government-imposed standards to limit environmental harm is shaping the home building and improvement market. Consumers are opting for greener options such as photovoltaic roofing and vegetative roofs. Homeowners are also motivated to renovate their properties to cut utility costs by replacing windows and opting for energy-efficient thermal insulation.

Photo: sxc.hu / gobran111

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