The latest update from the Home Improvement Research Institute on consumer spending patterns shows homeowners are planning 3.4% more projects around the house than they were planning a year ago.
The stat reflects total projects planned per 100 homeowners, which increased from 314 to 328.
The year-over-year increase in project planning follows three consecutive quarters of declines of the metric.
Designed to be a leading indicator of industry activity, the HIRI sentiment tracking quarterly report has been tracking the trends since October 2012.
Other topline findings from the HIRI July 2014 Home Improvement Sentiment Tracking study:
• Project planning incidence increased to 74.5% of homeowners, up from 71.2% a year ago.
* Lawn projects take up more than a third of all projects – 33.9%.
• Deck, patio and porch projects are increasing compared to a year ago, and represent 26.7% of projects planned.
* Anticipated remodeling or improvement of the kitchen area declied, but still represents 16.4% of planed projects.
For more information, visit HIRI.org.