WASHINGTON -- According to the National Association of Home Builders' (NAHB) Remodeling Market Index (RMI), the remodeling market is heading into recovery with an increase to 46.5 in the first quarter of 2011 from 41.5 in the fourth quarter of 2010.
This marks the highest level for the RMI since the fourth quarter of 2006. However, an RMI below 50, still indicates that more remodelers report market activity is lower (compared to the prior quarter) than report it is higher.
"Remodelers report a jump in activity so far this year and have been receiving more calls for work and appointments," said NAHB Remodelers Chairman Bob Peterson, CGR, CAPS, CGP, a remodeler from Ft. Collins, Colo. "However, many homeowners are still slow to commit to remodeling due to feeling uncertain about the economic recovery and difficulty obtaining loans."
Posted by Michaelle Bradford
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