Remodeling Activity Flat in First Quarter

Washington, DC, April 30, 2012 -- Remodeling activity remained relatively flat in the first quarter of 2012, according to the Remodeling Market Index  compiled by the National Association of Home Builders.

The index fell one point to 47 from the upwardly revised 48 in the previous quarter.

An RMI below 50 indicates that more remodelers report market activity is lower (compared to the prior quarter) than report it is higher.

In the first quarter, the RMI component measuring current market conditions dropped one point to 49, while the component measuring future indicators of remodeling business fell two points to 44.

"We are seeing that the demand for remodeling work has been pulled forward because of a mild winter," said NAHB remodelers chairman George Moore Jr.

"That is why many remodelers reported lower numbers for future activity."

Major additions remained even at 44; minor additions rose one point to 52; and maintenance and repair dropped four points to 51.