Porch.com Releases Home Improvement Data Trends Report Based on Over Half a Million Projects
Porch.com, The Home Improvement Network, Shares 1st Edition Porch Data Trends Report and Includes Insights on Most Popular Professionals Hired Before the Sale of a Home and Most Popular Projects Completed After Purchase of a Home
SEATTLE, June 4, 2014 (GLOBE NEWSWIRE) -- Preparing to buy or sell a home? If you are a prospective or current homeowner - you have more information today than you did yesterday thanks to Porch.com.
Today, Porch, the home improvement network, released their 1st Edition Porch Data Trends Report. The full Porch Data Trends Report can be found online here: http://about.porch.com/blog/datatrendsreport1
An infographic accompanying this release is available at https://www.globenewswire.com/newsroom/prs/?pkgid=25706
Porch will issue this report several times per year, using insights from the 1.5 million professionals and over 100 million projects in their network to share analysis into what is happening within the home improvement space. Through analysis of their data, Porch will be able to share national, regional, and local insights into how homeowners are spending their money, what types of professionals they are hiring, the types of projects they are completing, and economic indicators such as project Return on Investment (ROI) and Average Project Cost (APC).
"When we started to build the blueprint for Porch.com, we knew early on that the cornerstone of our experience would be data," said Matt Ehrlichman, chief executive officer of Porch. "If you think about the home space, there is a lot of information out there. But what has never been explored with great depth is home improvement data at a national, regional, and local level that can help homeowners get the most out of their investment. For our very first Porch Data Trends Report, it was a no brainer for us to dive deep into the data to find ways that will help homeowners make informed decisions since spring and summer represents a peak time of year for home improvement, buying, and selling."
Porch Data Trends Report – 1st Edition
Which home improvement professionals are most popular before selling a home?
|Professionals Before Selling|
|General Contractors||19%||General Contractors||32%||Handymen||42%||Electricians||21%||Handymen||46%|
|HVAC||15%||Electricians||13%||HVAC||12%||Plumbers||17%||Architects & Designers||4%|
|Handymen||14%||HVAC||12%||General Contractors||10%||General Contractors||14%||Plumbers||3%|
|Percentage results reflect the likelihood of sellers to hire a particular professional type above the national average|
- General Contractors show up across the country as homeowners are likely taking care of projects to spruce up the home before they put it on the market.
- Areas that cause obvious concerns during a home inspection such as Electrical, Plumbing. HVAC, and Roofing have a high propensity of activity.
- Porch was surprised so see that more homeowners do not hire Painters before they sell as interior and exterior paint is an affordable way to improve curb appeal before listing. On average, Painting provides close to a 100 percent project ROI - making it a great project to complete before you list a home.
In addition to looking at the Top 5 most popular Professional Types, Porch also took a look at the project Return on Investment (ROI) and Average Project Cost (APC) for those that were in the #1 slot.
|Pros Before Selling|
Which home improvement projects are most popular after buying a home?
|Projects After Buying|
|17%||$1,567||Water Heater Replace||11%||$483||
|Home Inspections||4%||$920||HVAC Repair/Replace||8%||$1,434||
|3%||$1,829||HVAC Repair/Replace||9%||$5,867||Roof Repair/Replace||8%||$2,648|
|2%||$1,264||HVAC Repair/Replace||2%||$7,983||Bathroom Remodel||4%||$5,480||
|Percentage results reflect the likelihood of homeowners to complete a specific project above the national average|
- New homeowners immediately tackle Painting projects (both interior and exterior) – on average a lower cost project that brings a sense of personalization to a new home along with improved curb appeal.
- Across the board Appliance Installation is high as new homeowners seek assistance for moving in and installing purchases like new dishwashers, refrigerators, washers, and dryers.
- Roof Repair shows up as many homeowners likely negotiate any issues found during the inspection into a lower purchase price; making the act of Roof Repair an immediate need once they move in.
In addition to looking at the Top 5 most popular Projects, Porch also took a look at the project Return on Investment (ROI) and Average Project Cost (APC) for those that were in the #1 slot.
|Projects After Buying|
|Water Heater Replace||11%||62%||$483|
The most searched for professionals on Porch.com (over the last 30 days)
|30 Day Search|
- Painting is the # 1 priority for many homeowners. In particular, we found painting searches in the South to be 26 percent higher than the national average. In the parts of the country where the weather is warm and dry we expect there to be year round trends to support exterior painting.
- The Porch Search results revealed Landscaping searches in the Midwest to be 25 percent higher than the national average (signaling that the region is looking ahead to the start of spring).
- While not in the top 5 (but in the top 10), the Porch Search results revealed Tree Contractor searches in the Northeast that were 37 percent higher than the national average – surely a result of brutal winter conditions and related impact on trees.
Porch is the home improvement network, free for homeowners and professionals. With over 1.5 million professionals and over 100 million projects in their network, Porch enables consumers to make smart home improvement decisions by connecting them with the right professionals. Porch helps professionals grow their business and succeed as homeowners look online for trusted professionals to complete their projects and improve their homes. For more information about Porch visit http://porch.com.
Press Assets: about.porch.com/press
The infographic is also available via AP Photo Express.
CONTACT: Jessica Piha of Porch.com Inc. +1-206-422-0712 email@example.com Press Assets: www.about.porch.com/press Website: www.porch.com Twitter: @porchdotcomSource: Porch.com
Released June 4, 2014