Sad news for HGTV fans: Chip and Joanna Gaines announced on Magnolia today that season five of everyone's favorite remodeling show, Fixer Upper, will be the last season.

"It's such a bittersweet time for us," Joanna explains in the video. "The last five years, I mean, this has been our life — the show, the crew here."

Chip and Joanna go on to explain that they have felt this was going to be the last season for some time, and that they need to rest and be with their family. "We [are] stepping back, getting fresh vision, get some rest, and also hunker down with our kiddos, is something we're excited about but also sad that this chapter in our lives is coming to an end," explains Joanna.

The good news is that they aren't leaving Waco, Texas, and that they will continue to dream up and renovate gorgeous homes. "We aren't done renovating homes. We aren't done designing things to make your home your favorite place on earth," the post explains.

If you're already feeling blue about the end of "Fixer Upper," know that there are still things to look forward to. Season five — the final season — starts on November 5, and according to the couple, they "laid it all on the field and didn't hold anything back. We think it's the perfect finale to this amazing journey we've been on."

There's also the Target partnership with Chip and Joanna that will launch sometime in November, so you can bring a bit of their design sense into your own home. And if you live near a HomeSense store, you can always peruse through to find Chip and Jo goods, or just head over to Magnolia to buy their style online.

How do you feel about the big announcement? Let us know in the comments!