Press release
Angi Report Reveals Continued Growth in Home Spending as Americans Adjust to the New Normal
- Home improvement, maintenance and emergency spending increased by nearly 20% from last year - The average number of projects completed per household rose
About this update from Angi Inc.
[{"type":"text","content":"- Home improvement, maintenance and emergency spending increased by nearly 20% from last year\n - The average number of projects completed per household rose from 11 to 14\n - Top projects included interior painting, bathroom remodels and smart home device installation\n\n\nDENVER, Dec. 7, 2021 /PRNewswire/ -- Homeowners spent an average of $15,680 on home improvement, home maintenance and emergency repairs this year and took on an average of 14.4 home projects, according to Angi's 2021 State of Home Spending Report: The Great Shift – How the Pandemic Put Homes in Focus. This annual report focuses on trends in home spending including drivers, obstacles, top projects and forecasts for the years ahead.\n\n \n \n \n \n \n \n\n \n\"Not only did homeowners spend more on their homes, but they also completed more projects,\" said Mischa Fisher, Chief Economist at Angi. \"The growth in home spending we witnessed last year continued at a dizzying pace as people have continued spending more time in their homes.\"\nFisher added, \"2021 also presented homeowners with trillions of dollars of unexpected home equity and that wealth has been, at least in part, reinvested in the home through improvements, maintenance and repairs.\"\nTop Projects\nThe most popular home project of 2021 is interior painting, completed by nearly one in three homeowners (32%), followed by bathroom remodels (28%) and, a newcomer to the list, installing smart home devices (27%). Smart home devices replaced flooring in the top three completed projects this year. Other top projects include flooring (26.7%), landscaping (24.7%), exterior painting (24.2%), kitchen remodels (23.7%), fencing (23.1%), new roofing (19.6%) and new cabinets (19.5%).\n\"The top projects all dramatically change the look or use of one's home, mostly without being prohibitively expensive,\" added Fisher. \"Pre-pandemic, people were motivated to work on their homes for a return on investment or other financial incentives. Now, they're prioritizing projects that help their homes better suit their new normal.\"\nMost Desired Projects\nThis year's State of Home Spending report also asked homeowners what home projects they would do if given $10,000. While the overall top project was a living room upgrade, selected by 17% of homeowners, the different priorities of men and women were clear. Male homeowners...