- Huntington Police Seach for Armed Robber; Another Reported on Washington Avenue
- Hallowed WTC Steel Relics Arrive in Huntington IMAGES
- Rooster's Hosts Princess Night with Mickey and Minnie Mouse IMAGES
- W.Va. AG Warns Consumers of DMV Impostor Scam
- Friday Tsubasacon 2016 IMAGES Cos Play
- Two Drug Arrests in Huntington
- Attorney General Morrisey Fights To Protect Coal Jobs At Crucial Moment
- Nostalgic Images of Ten Forgotten Huntington Venues
- Man Arrested in West End of Huntingtotn for Possession
- In Wells Fargo Case, News Really Did Happen To An Editor
NAHB: Remodeling Market Index Steady at Historical High
An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity.
“The remodeling industry ends 2013 on a high note as remodeler confidence holds steady at a historically high level,” said NAHB Remodelers Chairman Bill Shaw, GMR, GMB, CGP, a remodeler from Houston. “We expect to keep this positive momentum going in 2014 as more home owners will continue to take on remodels and repairs that had been postponed in the downturn.”
The RMI’s future market conditions index rose from 56 in the previous quarter to 58, the highest reading since the inception of the series in 2005. Three of the four major components of the RMI’s future market conditions index increased in the final quarter of 2013. Calls for bids increased from 56 to 59, the amount of work committed for the next three months from 52 to 54 and appointments for proposals from 55 to 59. The backlog of remodeling jobs fell one point to 59.
The current market conditions component of the RMI declined two points to 56 this quarter.
“Steady existing home sales, historically favorable interest rates for home buyers and rising home equity have combined to release some of the pent up demand for home remodeling from the past few years,” said NAHB Chief Economist David Crowe. “This quarter’s RMI reading shows that the slow but steady improvement in the remodeling market will continue in 2014.”
For more information about remodeling, visit www.nahb.org/remodel.