Homeowner spending on home improvement increased in the past year, particularly among the millennials, according to The Mortgage Reports.
While baby boomers and generation X homeowners are more likely to spend on changing home designs, millennials are more likely to spend on improving their property’s value.
Home improvement spending is up nearly 20%, and the average homeowner spent more than $9,000 on home projects in just the last year.
Still, though homeowners are spending more on improvement projects, they’re doing more maintenance.
The average homeowner did nearly seven home maintenance projects last year.