Houzz Study Reveals a Favorable Outlook for Home Renovation Professionals in 2023

Home Renovation professionals are optimistic about 2023, according to the 2023 Houzz U.S. State of the Industry. The report provides an outlook on 2023 and review of 2022 performance for residential renovation and design businesses based on data reported by more than 2,000 professionals in the Houzz community. 

Companies across industry sectors have a confident outlook for 2023, with at least half anticipating this will be a good or very good year (50% to 56%). Businesses expect the demand for their services to increase, along with revenue and profits, albeit at a much slower rate of growth than they experienced last year. This follows lower revenue growth in 2022, compared to the four-year high reported in 2021.