According to Houzz, nearly three in five homeowners remodeled or decorated in 2022 and nearly half made repairs.

Houzz released its survey findings of residential remodeling, building and decorating activity from 2022, with predictions for 2023. With 46,000 respondents in the U.S. from December 2022-February 2023, Houzz found from its survey that homeowners are renovating for the long run. The average cost spent on these renovations was $22,000, and higher-budget costs reached $140,000 or more. 

Interior spaces are the most popular areas to renovate at 72%, and homeowners typically tackle an average of three spaces at a time. Last year, kitchen and bathroom remodels have remained the top projects and a higher percentage of homeowners upgraded these spaces compared to 2021. Kitchens and primary bathrooms also command the highest median spend: $20,000 and $13,500, respectively.

One in 10 homeowners undertook an addition as part of their remodeling project in 2022, compared with 8% each year from 2018 through 2021. The rooms most associated with additions include kitchens, bathrooms and living rooms.

Last year, Baby Boomers were the generation that continued to lead in renovation activity at 59%, followed by Gen Xers at 27% and Millennials at 9%. For the first time, though, Gen Xers surpassed Baby Boomers in the average spending with $25,000 versus $24,000. 

Renovation activity is continuing in 2023, with more than half of homeowners planning projects this year, and with an anticipated average spend of $15,000 or $85,000 for higher- budget projects. Following two strong years, though, according to 2023 Houzz U.S. State of the Industry, many home remodeling and design professionals are expected slowed growth this year.

View the full report here.