Remodeling Market Optimism Strengthens in 2016 Third Quarter
The NAHB Remodeling Market Index posted a reading of 57 in the third quarter of 2016.
The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) posted a reading of 57 in the third quarter of 2016, an increase of four points from the previous quarter and also a return to levels seen consistently throughout 2015. An RMI above 50 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.
“Remodelers nationwide are seeing increased demand for major and minor addition jobs and calls for bids, leading to an increase in both current and future market indicators," said Tim Shigley, NAHB remodelers chair. “However, ongoing labor shortages continue to challenge their ability to meet the increased demand.”