- More than half of Americans are unwilling to put their homes on the market, fearful of giving up low-rate mortgages and being forced to take out loans that are much more expensive; however, 2 in 3 homeowners say they plan to make home improvements in the next six months to a year
- More than 2 in 5 homeowners, particularly millennials, admit they have given up on a project altogether due to a lack of necessary tools
- CRAFTSMAN is currently offering holiday deals online and at participating stores for homeowners looking to save on tools for their next project
- In addition, CRAFTSMAN is helping to provide access to tools and education to homeowners by donating up to $100,000 in products to maker spaces across the U.S.; Maker spaces will hold workshops on basic to advance home project skills such as carpentry, woodworking and general home maintenance
TOWSON, Md., Dec. 5, 2023 /PRNewswire/ -- A new survey released today from Stanley Black & Decker's (NYSE: SWK) iconic CRAFTSMAN® brand examined the impact that higher lending rates have on U.S. homeowners and their home improvement decisions, and found nearly two-thirds of homeowners (65%) see home improvement projects as an alternative to buying a new home, given high interest rates in the housing sector.
Experience the full interactive Multichannel News Release here: https://www.multivu.com/players/English/9120354-craftsman-home-field-advantage-survey-home-improvement-trends/