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Report: Pandemic a Boon to Home Improvement Spending

A customer/client shaking hands with a contractor behind a desk with a hard hat and blueprints on it
While the US economy shrank by 3.5% in 2020, home improvement spending grew more than 3% to nearly $420 billion, according to Harvard report.

Despite a shrinking US economy in 2020, spending on home improvements and repairs grew more than 3% to nearly $420 billion, as households modified living spaces for work, school, and leisure in response to the COVID-19 pandemic, according to Improving America's Housing 2021, a report released by the Harvard Joint Center for Housing Studies.

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