COVID-19 news and updates change quickly and frequently. Some of the information in this article may soon be out of date. We will do our best to keep details updated during this challenging time. The article below reflects information as of June 1, 2020.
As many businesses across our nation re-open during COVID-19, we understand there is still a long road ahead for our nation’s economy. This pandemic continues to impact planning and purchasing decisions on a global scale. At Modernize, we continue to monitor news around the Coronavirus and understand we play an important role in keeping contractors and homeowners connected.
To increase homeowner insight for contractors, we survey our homeowners on a weekly basis to learn more about their home improvement preferences and pain points. We are currently asking homeowner’s about their project plans during COVID-19.
In our most recent survey, we ask homeowners, across trades, when they expect to begin their large scale home improvement project. We have learned 60 percent of homeowners plan to begin their Modernize project in the next two to four weeks. This survey includes more than 1,300 responses.
For homeowners who responded that their project time is more than one month out, we followed up to learn if their timeline was directly affected by COVID-19. The majority of homeowners, 53 percent, said COVID-19 did not impact their project plans.
Home improvement remains one of the few industries that has experienced a positive impact during the pandemic. With so many individuals at home, many homeowners have embarked on both DIY and professional projects. Business Insider reported at the end of May that Lowe’s posted an 11.2 percent rise in sales.
While our survey results are encouraging, there are still many homeowners who have concerns about completing critical projects during COVID-19. We encourage our contractors to leverage our recent COVID-19 materials to help create virtual conversations with homeowners during this difficult time.
Read more in our recent Modernize resources:
- Transition to virtual tools with easy with our recommended tools
- Help support homeowners with realistic recommendations
- Partner with lenders to help your homeowners complete projects
- Share your local business offering with homeowners, and
- Follow CDC guidelines to make project kick off and installation as safe as possible