DIY/DIFM Research Insights
The Farnsworth Group and the Home Improvement Research Institute (HIRI) have once again partnered to provide manufacturers and suppliers with monthly updates on critical factors impacting customer behaviors and attitudes in our industry. Specifically Product Availability, Material Costs, and Labor. We'll be fielding monthly surveys to DIYers, DIFM and Contractors to get a consistent pulse on project sentiment and behaviors of each audience.
Check out our Contractor Results.
Since last Summer we now see a slow, but long-term trend that shows fewer homeowners see this as a good time to start a remodeling project. The same can be said about fewer homeowners feeling this is a good time to hire a contractor over the same period of time. However, as we’ll see in a moment, intent – the desire to do a home project – remains high despite concerns it might not be the ideal time.
Going up is the percent of homeowners starting a DIY project, which is often the case as weather warms up. Only 33% hired a pro, which has been extremely consistent month over month. 76% did it themselves because it was cheaper. For those that did hire a pro, June marked the highest % that had trouble finding a pro. The top challenges – availability and cost of that pro.
Materials & Availability
Like Pros, over 50% of DIYand DIFM have had trouble with material availability. Building materials were at the top followed by Kitchen and Bath remodeling products.
Costs & Pricing
Pricing continues to be more of a factor in project decisions. 23%purchased less than planned and 13% purchase a cheaper product or brand last month.
For the first time in months we see intent tick down to 66% of homeowners planning to start a project in the coming weeks vs 71% last month. Summer trends often see a reduction in intent.