DES PLAINES, IL — The National Association of the Remodeling Industry (NARI) reports business conditions during the first three months of 2014 dropped to 6.07, down from 6.41 in December. A decline occurred in all but one of the sub-components that drive the overall current rating. The largest drop was held by conversion of bids and sales value of jobs.
On the upside, strength of sales in the three-month period increased to 6.51, from the 6.41 reported during the fourth quarter of 2013, NARI said. NARI's numbers are based on a quarterly survey of members and uses a 1 to 9 rating system, where 1 is much worse than a year ago and 9 is much better; 5 is about the same as last year.
“The harsh winter seemed to have played a role in the decline of our numbers this quarter,” said Tom O’Grady, chairman of NARI’s Strategic Planning Committee.
“Postponed home maintenance issues continue to be a large driver for projects,” O’Grady said. “However, homeowners remain slow to make the decision to move ahead with higher-priced projects, which is still the biggest barrier to growth.”
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