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.
The NAHB Remodeling Market Index posted a reading of 57 in the third quarter, an increase of four points from the previous quarter and also a return to levels seen consistently throughout 2015.
Although it slipped from 53 in the first quarter of 2016 to 52, it is still the 13th consecutive quarter that the NAHB Remodeling Market Index has a reading above 50, indicating that more remodelers say market activity is higher (compared to the prior quarter) than report it is lower.
“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 rose one point to 58 in the 4th quarter. This was consistent with similar results over the past year and a half, indicating sustained confidence in the market from remodelers.
Remodelers are feeling positive about their job prospects right now: The NAHB Remodeling Market Index posted a reading of 57 in the third quarter. While that’s two points below the previous quarter, it’s still the 10th straight quarter it has been above the key break-even point of 50.
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.
The NAHB Remodeling Market Index (RMI) reclaimed the high-water mark of 57 in the third quarter of 2014, the sixth consecutive quarter for a reading above 50. 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.