Remodeling Index Highest in Nine Years

Washington, DC, Jan. 21, 2013 -- The Remodeling Market Index reached 55 in the fourth quarter of 2012, increasing five points from the previous quarter, according to the National Association of Home Builders.

This is the highest reading since the first quarter 2004.

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.

“Remodelers are optimistic about the outlook for slow and steady market growth in the new year,” said 2013 NAHB Remodelers Chairman Bill Shaw.

“Professional remodelers reported more work from large and small projects as well as overall home repair.”

Future market indicators increased from 49 in the previous quarter to 56. Current market conditions also showed improvement, rising from 52 in the previous quarter to 54.

Remodelers indicated that activity was particularly strong in owner-occupied properties, rating all categories of remodeling in owner-occupied homes 56 or better.

“With existing home sales up, the increase in the RMI partially reflects the remodeling work new home owners undertake when they move in,” said NAHB Chief Economist David Crowe. “Consumers are gaining confidence in the economy and feeling more comfortable pulling the trigger on large and small renovations.”

The RMI was above 50 in all four regions of the country.



Other Archived Articles

Wholesale Inventories Rise in February   Full Article
Washington, DC, April 9, 2014 -- U.S. wholesale inventories rose more slowly in February than in January, according to the Commerce Department.

Interest Growing in Home Purchase Mortgages   Full Article
Washington, DC, April 9, 2014 -- Mortgage application volume fell last week as refinancing interest declined, according to the Mortgage Bankers Association.

Knowles Named VP at Wood Firm PanTim   Full Article
Scarborough, ME, April 9, 2014 -- Rick Knowles has been appointed vice president, sales and marketing for PanTim Wood Products.

LEED Program Hits 3 Billion Foot Mark   Full Article
Washington, DC, April 9, 2014 -- The U.S. Green Building Council said that 3 billion square feet of green construction space has earned LEED certification worldwide.

Armstrong Raising Hardwood Prices   Full Article
Lancaster, PA, April 9, 2014 -- Armstrong said it will increase prices 4-10% in the U.S. and Canada on solid and engineered hardwood products effective June 9.

Mohawk Executives Get Double-Digit Raises   Full Article
Calhoun, GA, April 8, 2014 -- Mohawk CEO Jeffrey Lorberbaum got a 21.9% boost in his compensation last year.

InstaFloor Named Starnet Vendor Partner   Full Article
Bella Vista, AR, April 8, 2014 -- InstaFloor North America has recently been approved as an official Starnet Vendor Partner.

Job Openings Highest in More Than Six Years   Full Article
Washington, DC, April 8, 2014 -- Job openings rose by 300,000 to 4.17 million in February, the most in more than six years, according to the Labor Department.

Kennebec Lumber Signs Distributor Mr. Floor   Full Article
Solon, Maine, April 8, 2014 – Kennebec Lumber, parent company of Maine Traditions Hardwood Flooring, has signed an agreement with distributor Mr. Floor.

Bellavita Tile China Factory Gets ISO Certifications   Full Article
Carrollton, TX, April 8, 2014 -- Bellavita Tile said it has obtained ISO 9001 & 14001 certification for its wall tile factory in Tianjin, China.

Vacation Home Sales Surge in 2013   Full Article
Washington, DC, April 8, 2014 -- Vacation home sales rose strongly in 2013, while investment purchases fell below the elevated levels seen in the previous two years, according to the National Association of Realtors.

Floor Focus Vision Design Award Winners Announced   Full Article
Chattanooga, TN, April 8, 2014 -- We are honored to announce the winners of the fifth annual Vision Design Awards. This award was created to celebrate the dynamic integration of flooring and architecture.

More Housing Markets Continue to Improve   Full Article
Washington, DC, April 7, 2014 -- Of the approximately 350 metro markets nationwide, 59 returned to or exceeded their last normal levels of economic and housing activity in March.

Home Prices Rise Nationwide in February   Full Article
Irvine, CA, April 7, 2014 -- CoreLogic reported that home prices nationwide, including distressed sales, increased 12.2% in February compared to February 2013.

Commercial Firm H.J. Martin Wins Dal-Tile Award   Full Article
Green Bay, WI, April 7, 2014 -- An increase in product sales by over 50% from the prior year has earned commercial contractor H.J. Martin the 2013 Dal-Tile ‘Platinum Award’ for the Midwest Region.

Mullican Products Featured in 'Flipping Boston'   Full Article
Johnson City, TN, April 7, 2014 -- Mullican Flooring has provided solid hardwood flooring for two episodes of “Flipping Boston.”

Florida Tile Opens Designer Showroom in Dallas   Full Article
Dallas, TX, April 7, 2014 -- Florida Tile has opened its newest designer showroom concept and warehouse, a 15,000-square-foot facility in Dallas.

Starnet Closing in on Carpet Recycling Goal   Full Article
Darien, CT, April 4, 2014 -- Starnet said its commercial carpet reclamation program said that as of the end of March its members had recycled more than 44.6 million pounds of carpet.

Greenbuild Set for Los Angeles in 2016   Full Article
Washington, DC, April 4, 2014 -- The Greenbuild trade show will move from San Diego to Los Angeles in 2016.

Economy Adds 192,000 Jobs in March   Full Article
Washington, DC, April 4, 2014 -- U.S. employers added 192,000 jobs in March, according to the Labor Department.