Reported 5 months ago
American homeowners are postponing home renovation projects and opting for more budget-friendly options due to high borrowing costs and a slow housing market recovery. Major home improvement retailers like Home Depot and Lowe's have reported a decrease in big-ticket project spending, with consumers shifting towards cheaper DIY solutions. Rising interest rates have led to a decline in remodeling investments, causing homeowners to delay projects to increase home resale value. The overall spending on home improvement and repairs is expected to decrease, with many homeowners reevaluating their renovation plans and seeking cost-effective alternatives.
Source: YAHOO