According to the Modernize 2024 Homeowner Insights Report, which captured insights from over 150,000 U.S. homeowners across key trades, including HVAC, solar, roofing, windows, bathrooms, and more, the early planning phase is increasingly driven by financial uncertainty and a demand for trustworthy information, according to our home service industry trends.
Key Findings
Financial Uncertainty Shapes Decision-Making:
Nearly 46.41% of homeowners have postponed or canceled projects due to economic pressures. Another 26.82% are moving forward cautiously, while a resilient 13% remain undeterred, continuing to invest confidently in home upgrades.
Time Spent on Research Is Rising:
More than 53% of homeowners dedicate between 1 to 5 hours researching before they begin. Nearly 16% spend 10 or more hours upfront—and that’s not the end of their journey.
In fact, 30% of respondents plan to invest 10+ additional hours researching before selecting a contractor.
Where They Research (and Where They Don’t):
Digital platforms lead the way, with 23.5% of homeowners relying on home improvement websites like Modernize, Angi, and Houzz. Retailer websites follow at 15.9%.
Homeowners’ Feelings About Their Projects are Diverse:
- 11.9% feel uncertain
- 11.3% are curious
- 10.9% are hopeful
- Just 3.5% feel fully “prepared”
Cost Remains the Top Barrier:
Among those who have previously canceled a project, a significant 89.23% cited cost as the driving factor.
What These Homeowner Industry Trends Mean for Home Services Professionals
- Homeowners are more informed but cautious. They are spending significant time researching, which reflects home services industry trends around digital-first planning.
- There is a growing opportunity to support customers through educational resources, budget tools, and product guidance.
- Contractors should recognize the emotional and financial uncertainty at play. Providing calm, professional expertise can build trust quickly.
- This data is a call for home service professionals to modernize their digital presence. Being visible in the research phase, particularly across home improvement platforms and search, increases your chance of becoming the first call.
