More and more Americans are rolling up their sleeves and completing DIY remodeling projects in their homes, the National Association of Realtors (NAR) found in its 2019 Remodeling Impact Report. The report found that 53% of projects were completed by a professional during their scope of study, while 47% were completed by homeowners.
The study also reported that 73% of home renovation projects conduced by Gen Yers and Millennials (under the age of 40) were DIY. However, over half of the projects completed by Baby Boomers were done by remodeling professionals. The NAR's study gathered results from 2,287 respondents between April and August in 2016.
Housing Wire also aggregated and reported on home improvement spending and inventory after summarizing the NAR report findings. A NerdWallet report discovered that from 2015 to 2017, $449.5 billion was spent on home improvement projects. Similarly, a study conducted by construction loan management company Land Gorilla found that 65% of American homes were more than 25 years old and in "desperate need of renovation."
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