Homeowners spending less on renos: HomeStars survey

HomeStars, the online contractor referral service, published its fifth annual Reno Report last week. It revealed that Canadian homeowner respondents reported spending an average of $12,300 on renovations in the past 12 months. That was down from about $13,000—or 5.4 percent—in the 2022 Reno Report.

HomeStars also asked homeowners to predict their anticipated renovation spending over the next 12 months. That number, $10,264, is a significant 14.1 percent decline from the past year’s average spend.

“Weather-related events” were a major driver of Canadian renovations, the survey said. One-third of responding homeowners had completed emergency repairs because of weather-related events, peaking in Atlantic Canada at 41 percent.