Home Remodeling Index in U.S. at Record High
Home Improvement stores are liking this article! In accordance to the NAHB, the National Association of Home Builders’ Remodeling Market Index (RMI) reclaimed the high-water mark of 57 in the third quarter of 2014. This is the sixth consecutive quarter for an RMI reading over 50.
An RMI above 50 suggests that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower. The general RMI averages ratings of current remodeling activity with signals of future improvement activity.
“Most remodelers continue confident that the market is increasing as home owners manage renovations, large and small,” said NAHB Remodelers Chair Paul Sullivan, CAPS, CGR, CGP, of Waterville Valley, N.H. “The persistence and durability of positive RMI readings are in line with the steady improvement of the housing industry.”
The RMI’s upcoming market conditions index rose to 58 from 56 in the earlier quarter. All four of its subcomponents–calls for estimates, amount of work determined for the next three months, log of opportunities and appointments for proposals–increased or remained level with the previous quarter’s reading.
Provided courtesy of www.sanfernandovalley.properties
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