Posted in Industry News
Remodelers’ Confidence in the Market Went Up in Q2
As builders’ confidence in the current state of the housing market continues to rise the remodeling industry is also seeing a resurgence as well. In fact, the latest Remodeling Market Index (RMI) from the National Association of Home Builders (NAHB) increased by three points to 56 in the second quarter of 2014, showing increased confidence from this group as well.
After the bitter winter weather in Q1 2014, the housing industry as a whole, including both the new construction and remodeling sectors, saw a dip in activity.
Based on a quarterly survey of NAHB remodelers, the RMI is calculated by averaging indicators of future remodeling activity and remodeler’s ratings of current market conditions. The index is scaled so that a number above 50 means more remodelers reported market activity as higher than lower. The overall RMI has been above 50 for five consecutive quarters.
Read the full article from NAHB here.
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