On January 18, 2018, the National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) gained three points to 60 points in the 4th quarter of 2017, from 3rd quarter of 2017.
The RMI’s current market conditions index higher four points to 60 points, major additions and alterations rose seven points to 60 points, component measuring demand for smaller remodeling projects jumped three points to 59 points, and home maintenance and repair component increased three points to 61 points in the 4th quarter of 2017 from 3rd quarter of 2017.
“At a high of 60, the RMI is consistent with the strong growth in home improvement spending in 2017,” said NAHB Chief Economist Robert Dietz. “However, the surge in the backlog of remodeling jobs likely reflects supply-side challenges remodelers are facing in the form of skilled labor shortages and rising material prices.”
For complete more detailed information about NAHB/s remodeling market report for 4th Quarter of 2017, please click HERE
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