Tag: Remodeling Market Index
The NAHB Remodeling Market Index rose to 58 in the first quarter of 2017, an increase of five points from the fourth quarter of 2016 and the highest reading in two years.
“Remodelers were solidly booked for jobs in the first quarter of 2016, but calls and appointments for work slowed down in comparison to the end of 2015,” said 2016 NAHB Remodelers Chair Tim Shigley, CAPS, CGP, GMB, GMR, a remodeler from Wichita, Kan. “Volatility in the financial markets during the first quarter may have impacted consumers’ readiness to commit to projects.”
The NAHB Remodeling Market Index posted a reading of 57 in the first quarter, off slightly from the historically high level of 60 in the last quarter of 2014 but above the key break-even point of 50.
Residential remodeling will see modest growth in 2015, according to a panel of experts at an NAHB press conference at the International Builders’ Show today in Las Vegas. Remodelers appearing on the panel cited home owners’ changing demographics and increased financial security as reasons.
Residential remodeling will continue a gradual climb after a dramatic fall during the economic downturn, said NAHB Remodelers leaders at the International Builders’ Show (IBS) in Las Vegas. Remodelers from around the country cite increased demand from home owners for upgrades to existing bathrooms and kitchens. NAHB projects that residential remodeling spending on owner-occupied single-family […]