Home Services Consumer Study Summer 2022Executive Summary The home services sector is positioned for healthy long-term growth due to housing market trends and a shift toward outsourcing more home-related tasks. This shift is driven by home-buying millennials with less free time, waning DIY interest, and more money to spend. ? A majority of surveyed consumers are more likely to outsource home services than perform those tasks themselves. ? Most are also increasing their spending on service providers, with a tendency for hiring those with technical or specialized expertise. While consumers have a preference for local brands, some services benefit from national recognition and spend. ? For services where the consumer is "in the market" for a shorter time period, national brands can have an awareness and marketing spend advantage, but consumers generally favor local brands that are well reviewed. Financial and strategic buyers can take advantage of several opportunities within home services to create growth and value. ? Platforms that skew to break-fix, non-discretionary, and recurring services can generate steady growth. ? Digital channels—including internet sea