WASHINGTON -- The National Association of Home Builders (NAHB) reported that its quarterly Remodeling Market Index (RMI) moved up to 41.5 in the fourth quarter of 2010, compared to 40.8 in the third quarter.
An RMI below 50 indicates that more remodelers say market activity is lower compared to the prior quarter than report it is higher. The RMI has been running below 50 since the final quarter of 2005.
"Remodelers are starting to see an uptick in interest from consumers who are considering future remodeling projects," said NAHB Remodelers Chairman Bob Peterson, CGR, CAPS, CGP, a remodeler from Ft. Collins, CO. "Home owners are also showing more willingness to undertake larger remodeling projects."
Current conditions indices for remodeling improved in the Midwest 54.3, up from 44.9 in the third quarter, and the South 45.8 (from 42.3). However, the current indices declined in the Northeast 38.8 (from 41.6) and West 39.7 (from 49.3).
Read more about the National Association of Home Builders' RMI.
Posted by Rich Christianson
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