On July, 16, 2020, The National Association of Home Builders (NAHB) Remodeling Market Index (RMI) rose 25 point to 73 points in the 2nd quarter of 2020 from 48 points in the 1st quarter of 2020.
The current market conditions index gained 19 points to 77 points in the 2nd quarter of 2020 from 58 points in 1st quarter of 2020.
The major additions and alterations rose 17 points to 70 points in the 2nd quarter of 2020 from 53 points in the 1st quarter of 2020.
The market for moderately-sized remodeling projects 19 points to 78 points in the 2nd quarter of 2020 from 59 points in the 1st quarter of 2020.
The demand for smaller additions and alterations jumped to 21 points to 83 points in the 2nd quarter of 2020 from 62 points in the 1st quarter of 2020.
“An RMI of 73 indicates positive remodeler sentiment, and a change index of 66 indicates that business has picked up since the previous quarter as home owners focus on the importance of home for work and life amidst the pandemic,” said NAHB Chief Economist Robert Dietz. “However, rising material prices and ongoing skilled labor access represent ongoing supply-side challenges.”
For complete more detailed information about NAHB Builder Confidence Index for 2nd quarter of 2020, please click HERE
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