2022 Home Improvement Report

American homeowners spent more than a half-trillion dollars on home improvement projects in recent years, but they say inflation and a potential recession will be factors in how much they take on moving forward.

From 2019 to 2021, American homeowners undertook some 135 million home improvement projects, spending an estimated $624 billion, according to the most recent American Housing Survey from the U.S. Census Bureau. That’s an increase of about $100 billion in home improvement spending over the previous survey period (2017-2019).

This two-year period began before any of us knew the COVID-19 pandemic was coming, and it stretched through lockdowns and ambitious stuck-at-home DIY projects and into a housing market where homes — even those in disrepair — were selling for a mint. Any one of these factors could affect how people spend money on improving their homes. There’s little doubt that every one of them did.

“The pandemic triggered a lot of home improvements,” says…

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This article was written by Elizabeth Renter and originally published on www.nerdwallet.com