DES PAINES, IL — Remodelers enjoyed a strong second quarter in 2014 after a sluggish beginning to the year, according to a new survey from the National Association of the Remodeling Industry.
The number one driver of remodeling work in the quarter were individuals who postponed remodeling jobs due to the economy, who made up about 80 percent of the quarter’s workload, says Tom O’Grady, chairman of NARI’s Strategic Planning Committee.
According to the survey business conditions increased with a rise in the number of inquires, bids and a conversion of bids into remodeling jobs. Sales value of remodeling work also increased during the second quarter.
While the second quarter was positive, the survey indicated the three-month for outlook for business, declined for the first time since September 2013, primarily due to concerns over pricing and the lack of skilled labor.
Market activity remains positively weighted, with only 8 percent of remodelers reporting any level of decline versus the 70 percent who are seeing some level of growth, the survey revealed.
Have something to say? Share your thoughts with us in the comments below.