Weather Cools Remodeling Perceptions

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Posted To: MND NewsWire

The Remodeling Market Index (RMI) is to home remodelers as the Housing Market Index (HMI) is to new home builders. Each is constructed by the National Association of Home Builders (NAHB) to reflect builder confidence in their particular share of the market. The quarterly RMI is based on responses to a survey in which professional remodelers are asked to gauge current market conditions in terms of major and minor additions and alterations , maintenance and repairs on both owner- and renter occupied dwellings. NAHB assigns a numerical value to those answers. They are also asked about calls for bids, work commitments over the next three months, work backlogs, and appointments for proposals. Those questions form the basis of the future indicators index. The overall market index retreated to its…(read more)

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