DES PLAINES, IL — Remodeling conditions are showing growth, with a current rating of 6.41, up from 6.07 in March, based on The National Association of the Remodeling Industry’s (NARI) third-quarter Remodeling Business Pulse (RBP) data of current and future remodeling business conditions.
The rating system ranges from 1 to 9, based on the same data at this time last year. A low number indicates lower conditions than those reported last year, while a 5 indicates similar conditions and a 9 indicates better conditions.
Current business conditions increased from 6.29 last quarter to 6.41. The number of inquiries increased from 6.38 last quarter to 6.51, while requests for bids rose from 6.29 last quarter to 6.41 and conversion of bids increased from 5.83 last quarter to 6.01. The sales value of jobs also improved from 6.20 last quarter to 6.27.
Economic growth also rose from 47% in June to 57%.
“This is indicative of the slow, steady recovery of the remodeling industry,” says Tom O’Grady, chairman of the NARI strategic planning committee. “Currently 67 percent of remodelers are seeing growth, and are confident that the market is improving which is in line with market indicators.”
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