U.S. home owners have significantly cut down on the amount of money they spend improving and repairing their homes, reports NAHB economist Rose Quint in a recent Eye on Housing blog post.
Home owners spent about $150 billion on home improvements and repairs in 2013, according to NAHB analysis of the most recent data from the American Housing Survey(AHS). The AHS is conducted every other year by the Census Bureau and sponsored by HUD.
The $150 billion in total remodeling expenditures in 2013 was 34% less than in 2007 ($227 billion), 19% less than in 2009 ($186 billion), and 16% less than in 2011 ($178 billion).
The AHS data also reveals total expenditures by job type. View the Eye on Housing blog post for full details.