CAMBRIDGE (CBS) — 2020 was a record-breaking year for home improvements. Harvard University researchers found that Americans spent nearly $420 billion, much of it on do-it-yourself projects.
The study found that in late March of 2020, about 60% of people said they started at least one project in the previous two to three weeks. By early May that number jumped to nearly 80%.READ MORE: San Leandro Community Rallies for Reform on Anniversary of Steven Taylor's Police Shooting Death
“While the US economy shrank by 3.5 percent in 2020, spending on home improvements and repairs grew more than 3 percent, to nearly $420 billion, as households modified living spaces for work, school, and leisure in response to the COVID-19 pandemic,” wrote researcher Kermit Baker, who is director of the Remodeling Futures Program.Lodi Parachute Center Skydiver Dies After Chute Gets Tangled on Descent
He said that while the pandemic brought professional home remodeling to a halt, DIY projects surged.
The report predicts that due to changes in housing situations caused by the pandemic, “demand for remodeling projects could be even stronger than currently anticipated.”MORE NEWS: Saratoga Resident Displaced in 2-Alarm House Fire Sunday Morning