The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the fourth quarter, posting a reading of 66, declining 17 points compared to the fourth quarter of 2021.

Housing, remodeling, design indexes and studies point to challenges in the market.

Annual gains in improvement and maintenance expenditures to owner-occupied homes are expected to decline sharply by the middle of next year.

The Houzz Renovation Barometer points to a slowdown in business activity but the Q4 outlook varies by industry sector.

Data from the recently released market forecast indicates standard activity levels as inflation spikes and households face reduced income growth.

A Cost vs. Value (CVV) report found that exterior replacement projects continue the multi-year streak of delivering the best return on investment (ROI) for homeowners.

Data from the recently released market update indicates a return to pre-pandemic market levels as inflation spikes and households complete home improvement projects. Ease in consumer spending through 2026 expected. 

Expenditures for improvements and repairs to the owner-occupied housing stock are expected to grow throughout 2022 and into early next year, but at a decelerating pace.

Despite the challenges faced so far this year, there are still overwhelming opportunities for remodeling professionals.

RICKI surveyed 1,000 U.S. homeowners on projects they would tackle if given $10,000. The overwhelming majority - one out of three - said they would spend the money on a bath or kitchen remodel, followed by new flooring.