Aging homes, fading checks, and Gen Z customers: By the numbers

ServiceTitan yesterday released its 2025 ‘Consumer Trends in the Trades’ report. 

What’s happening: The report, developed in partnership with Synchrony and Visa, analyzes evolving homeowner preferences and spending behaviors. 

The big picture: U.S. and Canadian consumers and businesses, the report noted, spend $1.5 trillion a year on trades services — more than retail e-commerce and accommodation and food services.

• The U.S. housing stock has aged significantly, with the median home age hitting 41 years in 2023. 
• Of the 65 million pieces of home equipment recorded in ServiceTitan, including HVAC, 43 percent were installed 10+ years ago, and 16 percent were installed over 20 years ago.
• Meanwhile, according to Synchrony, home improvement shoppers begin research online 80 percent of the time, with 53 percent using mobile devices throughout their purchase path.

Zoom in: The report also examines demographic trends. 

• It found that 83 percent of all home service customers identify as white, compared with 72 percent of the total U.S. surveyed population.
• However, among Gen Z customers, 52 percent identify as white, while 48 percent identify as non-white, “suggesting the market will become substantially more diverse in the coming years,” it noted.
• Of note: For 65 percent of remodeling projects in the U.S., women are the primary decision-makers. 

Go deeper: Although checks comprised 36 percent of home service payments in 2024, that’s down from 59 percent in 2015, indicating that customers have gotten comfortable paying by other methods. 

• Over the same period, credit card payments rose from 27 to 37 percent, according to Visa. 
• Just 16 percent of home service payments are currently made online.

What they’re saying: “Homeowners today have high expectations for customer service, and expect options tailored to their preferences,” said Chris Petros, ServiceTitan’s Chief Operating Officer, in a statement. 

• “Whether that’s communicating with a contractor over the phone or through text, paying with a credit card or from their phone, or getting real-time updates on the status of a job, they want flexibility and transparency.”
• Full report (gated)