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Remodeling Market Index Nationwide Highest In Four Years

Apr 29, 2011 | Reprints | Unlock Link | Print

The national remodeling market is heading into recovery, according to the National Association of Home Builders (NAHB).

The NAHB’s Remodeling Market Index (RMI) showed an increase to 46.5 in the first quarter from 41.5 in the fourth quarter of 2010,marking the highest level for the RMI since the fourth quarter 2006. An RMI below 50, however, indicates that still more remodelers report market activity is lower (compared to the prior quarter) than report it is higher, according to a statement.

"Remodelers report a jump in activity so far this year and have been receiving more calls for work and appointments," said NAHB Remodelers Chairman Bob Peterson. "However, many homeowners are still slow to commit to remodeling due to feeling uncertain about the economic recovery and difficulty obtaining loans."

Regionally, the Northeast showed a quarter-over-quarter improvement to 46.1 in the first quarter from 38.8 in the fourth quarter 2010.

Commercial & Industrial