On July, 19, 2018, The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) gained one point to 58 points in the 2nd quarter of 2018, from 1st quarter of 2018.
The Remodeling Market Index’s current market conditions index declined one point to 57 points in the 2nd quarter of 2018, from 1st quarter of 2018, major additions and alterations down one point to 55 points, the component measuring demand for smaller remodeling projects decreased two points to 58 points, and the home maintenance and repair component increased two points to 59 points in the 2nd quarter of 2018, from 1st quarter of 2018.
NAHB Chief Economist Robert Dietz, stated “However, remodelers have to deal with rising material prices, especially lumber, and the continued shortage of labor to keep prices competitive. The labor shortage is also a factor contributing to the increasing backlog of remodeling jobs.”
For complete more detailed information about NAHB Builder Confidence Index for 2nd quarter of 2018, please click HERE
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