The National Association of Realtors' 2022 Remodeling Impact Report examines the reasons for home remodeling, the benefits of completing projects, and the potential cost recovery for homeowners. The report found that the COVID-19 pandemic led to an increase in the scale of remodeling projects, with 60% of NARI members citing this as a reason. The most common reasons for remodeling include upgrading worn-out surfaces, finishes, and materials (30%), adding space (20%), and improving energy efficiency (15%). REALTORS® estimate that homeowners can recover 62% of the cost of remodeling projects if they sell their home during the pandemic. The report also found that completing remodeling projects can increase a homeowner's happiness and appeal to buyers.
