Near-record levels of rainfall, continued labor shortages and the impact of tariffs challenge construction business sentiment.
Houzz, a platform for home remodeling and design, released the Q3 2019 Houzz Renovation Barometer, which tracks residential renovation market expectations, project backlogs and recent activity among businesses in the construction sector and the architectural and design services sector in the U.S. The Barometer points to mixed expectations for home renovation market activity in the third quarter of the year.
“The third quarter outlook for the architecture and design sector is the most optimistic of the past two years,” said Nino Sitchinava, Houzz principal economist. “However, construction sector sentiments are some of the lowest we’ve seen since 2015, although still high in absolute terms. Weather was the leading concern among construction businesses in the second quarter, which is understandable, since it was the wettest quarter in the U.S. since 1957.