Hardware Retailing The Industry's Source for Insights and Information
According to the 2024 U.S. Houzz Outdoor Trends Study, one-third of homeowners have upgraded or are upgrading their outdoor areas to expand their living spaces. The percentage is even higher when looking specifically at Gen Xers, with 41% wanting larger outdoor spaces, and Millennials, with 38% desiring an outdoor expansion.
When looking to expand outdoor living spaces, 65% of Millennials and 61% of Gen Xers are investing in major structural improvements, including decks, outdoor kitchens and swimming pools. These outdoor projects are for the most part not DIY projects, with 65% of homeowners hiring a professional to complete the work.
“With limited housing stock and higher interest rates impacting affordability, younger generations are squeezing functionality out of every inch of their current homes by focusing on the outdoors. Millennials, in particular, are most likely to invest in major structural upgrades in the yard and to add furniture and accessories to make it more personalized and livable,” says Marine Sargsyan, Houzz staff economist. “That said, large-scope outdoor projects are common across generations, and homeowners are hiring professionals to bring their dreams to life.”
As homeowners add final touches to their newly expanded outdoor spaces, top furnishings purchases include lighting, chairs or armchairs, pillows and throws, umbrellas, rugs and sofas or sectionals. Outdoor lighting was another popular update with 78% of homeowners adding or upgrading landscape lighting, string or bistro lights or porch sconces.
Based on the survey results, independent home improvement retailers can take advantage of homeowners’ wishes for expanded spaces by stocking the above products. They can also merchandise with outdoor vignettes that include a variety of products so customers can see and shop the whole project and visualize a finished space. Retailers can also incorporate elements of their lawn and garden department, as more than 75% of homeowners also upgraded plants, shrubs or trees as part of their outdoor space renovations.
You can read the full 2024 U.S. Houzz Outdoor Trends Study here and discover additional outdoor living trends from the Home Improvement Retail Institute here.
