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Home Remodelers Predict More Work In 2010

Jan 28, 2011 | Reprints | Unlock Link | Print

home repair Home remodelers expect to be working more in 2010, according to the National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI).

The index increased to 41.5 in the fourth quarter of 2010, compared to 40.8 in the third quarter. An RMI below 50 indicates that more remodelers say market activity is lower compared to the prior quarter than report it is higher. The RMI has been running below 50 since the fourth quarter of 2005.

"Remodelers are starting to see an uptick in interest from consumers who are considering future remodeling projects," said NAHB Remodelers Chairman Bob Peterson. "Homeowners are also showing more willingness to undertake larger remodeling projects."

"Remodeling activity has been rising slowly since the first quarter of 2010," said NAHB Chief Economist David Crowe. "Expected improvements in the job market and the overall economy are beginning to increase homeowners’ confidence and remodelers are seeing indications that business will pick up."

Residential Real Estate