NAHB Remodeling Index Rose to 58 in Q4
Washington, DC, January 23, 2019-The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) posted a reading of 58 in Q4 2019, up three points from the previous quarter.
The RMI has been consistently above 50-indicating that more remodelers report market activity is higher compared to the prior quarter than report it is lower-since the second quarter of 2013. The overall RMI averages current remodeling activity and future indicators.
“The low inventory of homes on the market is forcing people to stay in their homes, thus increasing the desire and demand to remodel,” said NAHB remodelers chair Tim Ellis, CAPS, CGP, CGR, GMR, Master CGP, a remodeler from Bel Air, Md.
Current market conditions increased two points from the previous quarter to 56. Among its three major components:
* major additions and alterations gained four points to 56;
* minor additions and alterations increased by one point to 54; and
* the home maintenance and repair component rose one point to 58.