Residential remodeling market
U.S. spending on improvements and repairs to owner-occupied and rental homes reached $611 billion in 2022.
Source: Harvard Joint Center for Housing Studies, 2025Home improvement reference
U.S. Home Remodeling Statistics
A clear, source-led snapshot of the home improvement market, from homeowner spending and project activity to the larger housing landscape.
Last updated October 26, 2026
The numbers behind the work.
Floors are part of the bigger decisions homeowners make about upkeep, repair and making a home work better. These figures put those decisions in context. Every number below links to its original published source and the date it was reported.
Owner improvement spending
Homeowners spent $405 billion on improvements in 2023, covering work from major remodels to smaller upgrades.
Source: Harvard Joint Center for Housing Studies, 2025Owners taking on a project
Nearly 26 million owner households completed at least one home improvement project in 2023.
Source: Harvard Joint Center for Housing Studies, 2025Average improvement outlay
Average spending per homeowner on improvements was $4,700 in 2023.
Source: Harvard Joint Center for Housing Studies, 2025Owner maintenance spending
Homeowners spent $105 billion on maintenance in 2023, a reminder that keeping a house in shape is a continuing investment.
Source: Harvard Joint Center for Housing Studies, 2025Homes in the U.S.
The country has 145 million homes, with aging housing stock adding to the need for repair, maintenance and practical upgrades.
Source: Harvard Joint Center for Housing Studies, 2025Near-term remodeling outlook
Annual spending on improvements and repairs to owner-occupied homes is expected to hover around $525 billion through the third quarter of 2027.
Source: Harvard Joint Center for Housing Studies, October 22, 2026Latest residential construction reading
Private residential construction was running at a seasonally adjusted annual rate of $882.3 billion in August 2026.
Source: U.S. Census Bureau, October 1, 2026Above pre-pandemic levels
The remodeling market remained about 50% above its pre-pandemic level in 2025, even after cooling from its peak.
Source: Harvard Joint Center for Housing Studies, 2025What this means for homeowners
Small repairs can belong in a bigger plan.
National numbers do not decide what a particular floor needs. They do show why homeowners are weighing repair, preservation and replacement carefully. A practical assessment starts with the material that is there, the condition beneath the finish and the work needed to solve the actual problem.
For Central Ohio homeowners, that often means looking past the surface. A worn hardwood floor may need refinishing, a targeted board repair or a different plan altogether. Explore hardwood finishing or request a free estimate for a straightforward conversation about your floor.
Method and sources
Built to be useful and easy to check.
This page uses published data from the Harvard Joint Center for Housing Studies and the U.S. Census Bureau. Figures are shown as reported by their original source. This page will be reviewed regularly as new housing and remodeling data is released.
- Harvard Joint Center for Housing Studies, Improving America’s Housing 2025: Key Facts
- Harvard Joint Center for Housing Studies, Leading Indicator of Remodeling Activity, October 2026
- U.S. Census Bureau, Value of Construction Put in Place, August 2026 release
- U.S. Census Bureau, Value of Construction Put in Place, 2025 annual release