Home renovation activity remained strong in 2024 with 54% of U.S. homeowners completing projects, though median spending dipped to $20,000 from the 2023 peak of $24,000, according to the 2025 Houzz & Home Study. While overall spending softened, investments in major remodels of smaller kitchens and bathrooms showed notable growth, with small kitchen renovations increasing 9% to $35,000 and small bathroom remodels rising 13% to $17,000.
"The softening in renovation spend reflects the impact of elevated borrowing costs and the rising prices for everyday goods and services, which limit how much homeowners can allocate toward home improvements," said Marine Sargsyan, Houzz staff economist. Despite economic pressures, 90% of renovating homeowners hired professionals for their projects.