February 24, 2005

REMODELING ACTIVITY SLOWS

The Remodeling Market Index (RMI) decreased one point in the fourth quarter of 2004, according to a recent report by the National Association of Home Builders (NAHB). The Current Market Conditions Index, based on existing home additions, alterations and repairs being completed, fell from 51.8 in the third quarter of 2004 to 50.7 in the fourth quarter. The Future Expectations Index, determined by factors such as the amount of work committed for the next three months and the backlog of remodeling jobs, increased from 52.4 to 54. Both indices are measured on a scale of zero to 100.

NAHB also reported a jump in the number of appointments for proposals, which increased from 54.45 to 61.21. This increase signals a possible rebound for the remodeling market this spring.

Posted by gandlwoods at February 24, 2005 07:27 PM