Since 2008, the total number of jobs completed by the top 300 full service firms skyrocketed--going from just under 25,000 to 62,000 in 10 years. In the same time, the average job value has fallen, though not quite as drastically. Remodelers on averaged earned $41,000 for every job completed in 2008, but a decade later earned just $27,000.
In general, it appears that number of jobs and job value demonstrates an inverse relationship. As number of jobs go up, value goes down and vice versa. There are only two years, 2014 and 2017, where the pattern changes. In 2014, total number of jobs rose slightly, yet job value jumped nearly $10,000. Last year, both number of jobs and job value rose slightly. (Note companies listed in the Remodeling 550 vary slightly year to year).
As homeowners gain confidence post-recession, it appears more are willing to undertake smaller projects around the house. This means increased competition for remodelers trying to squeeze out as much value as possible from the market.
We will release the 2018 Remodeling 550 list on May 23. On that day, visit remodeling.hw.net/benchmarks/remodeling-550 to see the list and find out where your company ranks.
