According to a recent article at Houzz.com, there is good news about interior design trends and the demand for designers for the current quarter. The news is a result of the “Houzz Renovation Barometer, [which] is based on a quarterly online survey sent to a national panel of U.S. businesses with a profile on Houzz. The Barometer includes three components: expected business activity, recent activity, and backlogs (or wait times).”With short-term expectations strong for construction firms, architects, and designers, optimism for steady demand in all three industries is high. “The Q2 2019 Houzz Renovation Barometer tracks residential renovation market expectations; project wait times and recent business activity.”What the Houzz Renovation Survey Tells YouThe following is a snapshot of the interior design trends you can expect to see in the immediate future, based on the survey:
- Firms expect positive business activity – Like construction firms, architects and interior designers expect renovation business activity to rise during the second three months of 2019 from a year ago. Their score of 70 for the Expected Business Activity Indicator shows that there are more firms that anticipate increases than those that anticipate decreases. This score is up a dramatic 16 points from the same period a year ago, and up 5 points from the first three months of 2019.
- Wait times have decreased nationally – The Backlog Indicator for architectural and design firms stayed at an average of 4.7 weeks nationally for the second three months of the year, a drop of 1.4 weeks from the same time period in 2018. Compared with the first quarter of 2019, wait times are flat for the second three months of 2019. Architects currently have shorter wait times to take on a new midsize project (4.4 weeks) compared with interior designers (5.2 weeks).
- Recent business activity is up year over year – An increase in new-project inquires and new projects in January through March lifted the Recent Business Activity Indicator for this sector for the first quarter of 2019 to 63, up 16 points compared with the first quarter of 2018. However, relative to the prior three months, this score is down 2 points.
In short, there should be opportunities for growth in your design business in the immediate future. Following this, you should work hard to expand those opportunities, and this trend, by asking for referrals and recommendations from satisfied clients after each interior design project you complete.To learn more about interior design trends, design marketing tips, and our lines of luxury furnishings, Get in touch with TD Fall today.