US & Global Economic Impact Analysis and Forecasts

Freedonia analysts and economists are sharing their insights on how major events are impacting different parts of the US and global economies.

Latest Houzz Report Indicates Strong Interest in Kitchen Remodeling

The recently released Houzz Kitchen Trends Survey showed that US homeowners – spurred by the COVID-19 pandemic – frequently undertook kitchen remodeling projects in 2020. This should not be surprising, given that:

  • Americans spent (and are continuing to do so) more time at home because of the pandemic.
  • Restaurant closures and concerns about going out spurred consumers to prepare many meals at home, thus giving them time to consider ways that could improve or enhance their kitchens.
  • Interest in home improvement projects (a trend chronicled multiple times in this COVID-19 Economic Impact Tracker series) surged during the pandemic.
  • Homeowners – having tackled all of their DIY projects – moved on to tasks that required construction professionals.
  • Many consumers were able to save money during the pandemic and could afford the cost of a professionally remodeled kitchen.

This uptick in kitchen remodeling activity boosted demand for a wide range of construction products, key among them:

  • cabinets – homeowners not only replaced cabinets but added new ones to boost storage capacity
  • countertops  – not only did homeowners want to modernize the look of their kitchens, but many added islands for enhanced convenience
  • faucets – especially touchless ones that minimized contact with potentially contaminated surfaces
  • sinks – more cooking at home means more dishes to clean or a need for a second prep sink
  • flooring – such materials as LVT and porcelain and ceramic tile were popular with consumers due to their durability and ease of cleaning
  • appliances – a lot of demand for these products is pent up due to supply chains that were hampered by extraordinarily high demand and pandemic challenges in 2020

Going forward, The Freedonia Group analysts predict that 2021 will also be a strong year for kitchen remodeling activity. Even as the COVID-19 pandemic recedes in the US, homeowners will still want to remodel their kitchens – rare is the homeowner who complains of too much storage space or too-recent appliances – and as economic conditions improve, more people will be able to make such an investment in their homes.

For more information and discussion of opportunities, see The Freedonia Group’s extensive collection of off-the-shelf research, including those covering the Construction industry, such as Cabinets, Countertops, Home Kitchen & Bathroom Remodeling, Plumbing Fixtures and Fittings, Global Major Household Appliances, and the update of Hard Surface Flooring (coming soon). Freedonia Custom Research is also available for questions requiring tailored market intelligence.