The National Association of Home Builders (NAHB) recently announced its Remodeling Market Index (RMI) rose three points to 56 in the second quarter this year, reportedly regaining the momentum built in 2013. This is the fifth consecutive quarter for an RMI reading above 50, which indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity.
“With many home owners on better financial footing, home remodeling has become more popular,” said NAHB Remodelers Chair Paul Sullivan. “The completion of postponed work has helped remodelers in all regions regain confidence in the remodeling market.”