Homeowners have been investing considerable amounts of money into their houses since the spring of 2020. The pandemic caused a reevaluation of how a house functions, and a combination of buying, selling, and refinancing helped drive upgrades. Will consumers continue this investment pattern, or will they look for other ways to spend their money as the economy opens?
The results of the latest survey from home improvement platform Modernize indicate the trend of spending on the home will continue at least through the rest of the year. The website surveyed 6,500 homeowners in September and October 2021. The survey asked about their plans for spending in addition to the project they came onto the site to research.