CAMBRIDGE, Ma. — The Joint Center for Housing Studies (JCHS) at Harvard University reveals the US remodeling market has soared above $600 billion in the wake of the pandemic and, despite recent softening, remains 50 percent above pre-pandemic levels. The extraordinary strength of the market has been supported by the aging of homes and households, as well as record-high property values.

Industry fragmentation, inflation, and a shortage of skilled trade labor jeopardize the ability of the industry to meet demand.

Overcoming these obstacles will be critical for modernizing and preserving the existing housing stock including addressing basic adequacy and accessibility needs. At the same time, far more investment is required to improve energy efficiency and disaster resiliency for the nation’s 145 million homes.

Improving America's Housing 2025 report by the JCHS is set to be released March 20.