ContentsBig Ideas3 2025 Overview & 2026 Plans 2025 Motivations & Financing7 2025 Projects & Spend13 2025 Professional Involvement Generational Trends31 Methodology41 Big Ideas Gen Z* Gains Ground in Renovation Market Renovation Activity Holds Firm as High-End Spend Edges Up Gen Z homeowners now account for 0.5% of renovators, up from 0.2%the year prior. They are significantly more likely to renovate following arecent home purchase (61%) compared with Millennials (31%), Gen X(19%) and Baby Boomers (18%). Life changes also play a role, with Home renovation activity is continuing at levels seen in recent years.More than half of homeowners (54%) report renovating, while a slightlysmaller share (52%) reports decorating, down from 54% in 2024. Theshare undertaking repairs (47%) remains consistent year over year.Spending patterns point to overall stability, with the median renovation Homeowners Turn More to Credit Cards as Financing Mix Evolves While the majority of homeowners (84%) continue to rely on savings tofund renovations, more than a third (34%) use credit cards, with thepercentage up by 5 points year over year. Overall, those with budgetshigher than $50,000 turn to diversified funding sources, such as home Homeowners Continue to Renovate, but Activity Has Softened Half of homeowners (50%) plan to undertake projects in 2026, downslightly from 52% in 2025. Plans across other project types havesoftened, with decorating (41%) and repairing (35%) both declining(from 44% and 37% in 2025, respectively). The median planned Budgets Knowingly Exceeded While three-quarters of homeowners (75%) set an initial budget, nearly2 in 5 (37%) exceeded their set amount in 2025, slightly outpacing thosewho came in on target (35%). While unexpected costs remain a factor,many homeowners (35%) consciously select higher-end materials than Time and Money Still Drive Renovations Homeowners continue to cite time and financial readiness as theleading renovation triggers. The share reporting finally having the timeto renovate is unchanged year over year (40%), while the share citing *Generational categories follow Pew Research Center’s age ranges: Gen Z (18-29), Millennials (30-45),Gen X (46-61), Baby Boomers (62-80) and Seniors (81+). 2025 Overview& 2026 Plans 2025 OVERVIEW Renovation Activity Holds Firm asHigh-End Spend Edges Up Overall, project activity and median renovation spend remained steady in Home renovation activity is continuing at levels seen in recent years. Morethan half of homeowners (54%) report renovating, while a slightly smallershare (52%) reports decorating, down from 54% in 2024. The share At the same time, new home construction remains a niche activity, withjust 3% of homeowners building from the ground up, down from 4% in each Spending patterns point to overall stability, with the median renovationspend holding at $20,000 year over year, following a peak of $24,000 in2023. Meanwhile, higher-end spending has increased, with the 90th 2026 PLANS Homeowners Continue to Plan Planned renovation activity remains robust in 2026, with half ofhomeowners (50%) intending to undertake projects, down slightly from52% in 2025. Planned activity across other project types has softened, with Homebuilding continues to account for a small share of planned activity Budgets are trending downward. The median planned renovation spendstands at $15,000 in 2026, compared with $20,000 in 2025. At the higherend, the 90th percentile of planned spend is $80,000, down from $85,000 2025Motivations & 2025 MOTIVATIONS Time and Financial ReadinessContinue to Lead Renovation Drivers Drivers of renovation activity remained largely consistent between 2024and 2025, with homeowners continuing to cite time and financial readinessas the leading triggers. The share reporting finally having the time to Other motivations show similar consistency. Customizing a recentlypurchased home (20%) and adapting to changes in lifestyle (16%) bothdipped slightly from 2024 levels, while addressing damage due to homeage or other factors increased to 19% from 17%. Planning to sell (8%) saw a Overall, the data point to stable underlying motivations for renovation, withmodest shifts across specific triggers rather than broad changes in 2025 FINANCING Nearly a Third of Homeowners Takeon $50K+ Renovation Projects Nearly a third of homeowners (31%) take on renovation projects costing$50,000 or more. This includes 14% taking on projects in the Lower-budget projects remain common, with 14% of homeownersspending between $1,000 and $4,999, up slightly from 13% in the previoustwo years. Meanwhile, midrange projects shifted slightly, particularly in the$10,000-to-$24,999 range, which accounts for 23% of renovations, down Spending in the $5,000-to-$9,999 range remains relatively stable year overyear at 13%. Projects in the $25,000-to-$49,999 range have inched up to19%, compared with 18% in the previous two years. And the share ofprojects in