Homeowner Spending Continues to Soar
As homeowners continue to spend, the homebuilding industry reaches new highs while builders face labor shortages.
According to Yahoo! Jobber, the leading provider of home service management software, today released their latest Home Service Economic Report: Record Growth Fuels Labor Shortage. The report features expert insights and proprietary data aggregated from over 100,000 residential cleaners, landscapers, HVAC technicians, window washers, plumbers, and more, who use the Jobber platform.
Consumer spending continues to drive revenue growth in Home Service, which has outperformed all other categories, including Grocery Stores and General Merchandise Stores in Q3. Long-term sustainable growth is expected through Q4 and into 2022:
Construction Maintains Momentum: The number of new homes being constructed and new building permits issued continued to outpace pre-pandemic levels, with no indication of slowing down.
Growing Invoice Sizes Across the Board: Invoice sizes saw an increase in all the main segments across Home Service, including Cleaning, Contracting, and Green, which includes landscaping, lawn care, and other outdoor services.
New Work Growth Stays Positive: Despite the supply chain and labor shortage challenges, new work scheduled continued to show positive year-over-year growth for all segments. The growth in Cleaning was powered by a 21% increase in contract jobs.