On home improvement projects, millennials spent $10,164 this 12 months, which is 2% greater than final yr. Last yr, millennials were additionally the highest spending age cohort for home improvement, spending $9,958. Millennials are nonetheless in prime home-buying and family-formation years and may have benefited from a post-pandemic rebound in salaries and earnings, probably driving them to be the top spenders on their properties. Similar to final year, many of the high initiatives in 2023 are non-discretionary duties, particularly maintenance, replacing home windows, and repairing a roof. With extra budgetary demands and the impression of inflation, it’s not a stunning …