Market trends 2025
Explore a summary of the headline themes impacting families and individuals in 2025.
HOME/AUTO
- Labor remains the biggest challenge in residential construction. At the end of 2024 residential
building worker wage growth hit a 9.9% increase year-over-year. - Material costs remained relatively stable.
- The complexities of building new vehicles have increased. Safety and convenience features improve
the driving experience and reduce crash potential but also make vehicle construction more complex,
and repairs more challenging and costly. - Auto labor repair rates have increased 4.9% from 2023
+3.6% Asphalt roofing
+4.3% Wood cabinetry
+1% Paint
+2% Dry wall
+2% Windows and doors
+2% Wood siding and trim
+5.5% Concrete products
WEATHER
Another record-breaking year for billion-dollar disasters, 24 named storms predicted for hurricane season
What’s shaping collections?
Art Sports memorabilia Jewelry and collections
We expect to see a continued focus on collecting established artists, and continued growth of
contemporary art as the leading market segment, as younger collectors buy the art of their time.
New collectors are drawn by both investment potential and sentimental value.
Forecasts predict the segment to grow from $33.6 billion in 2024 to a staggering
$271.2 billion by 2034
By 2030, Gen Z will account for
25-30% of luxury market purchases, while millennials will account for 50-55%. Jewelry and watches still represent more than 80% of the total market.
____________________________________________________________________________________________________________
1 Fu, Jing. “Residential Building Wages Grow at Unprecedented Rate”, National Association of Home
Builders November 4, 2024
2 U.S. Bureau of Labor Statistics Monthly Pricing Indexes
3 CCC Intelligent Solutions Inc. Crash Course 2023
4 NOAA National Centers for Environmental Information (NCEI) U.S. Billion-Dollar Weather and
Climate Disasters (2024).
5 Aisenberg, Jeremy. “The Future of Collectibles: Sports Memorabilia Market to Hit $271 Billion by
2034”, Sports Illustrated, Dec 18, 2024
6 D’Arpizio, Claudia; Levato, Federica; Steiner Andrea and de Monfolfier, Joelle. “Long Live
Luxury: Converge to expand through Turbulence”, Bain, January 2024
Chubb is the marketing name used to refer to subsidiaries of Chubb Limited providing insurance and
related services. For a list of these subsidiaries, please visit our website at www.chubb.com.
Insurance provided by ACE American Insurance Company and its U.S.-based Chubb underwriting company
affiliates. All products may not be available in all states. This communication contains product
summaries only. Coverage is subject to the language of the policies as actually issued. Surplus
lines insurance sold only through licensed surplus lines producers. Chubb, 202 Hall’s Mill Road,
Whitehouse Station, NJ 08889-1600.
