Palo Alto, Calif. — Construction businesses have tempered their positive outlook for expect business activity in the second quarter from last quarter’s peak, according to the recently released Q2 2022 Houzz Renovation Barometer.
The barometer, based on a quarterly only survey of businesses with an online profile on Houzz, tracks residential renovation market expectations, project backlogs and recent activity among U.S. businesses in the construction sector and the architectural and design services sector.
While architecture and design professionals remain confident about their business outlook, this has softened slightly, with expectations declining somewhat for project inquiries and new committed projects. Backlogs reached three months for construction professionals and nearly two months for architecture and design professionals.
“While business activity and the confidence in demand for construction and design services has been the strongest we’ve seen in the last four quarters, industry professionals are cautious about expected Q2 performance,” said Marine