The National Association of Home Builders is reporting this week that their Remodeling Market Index (RMI) posted a reading of 53 in the second quarter of 2016. Although it slipped one point from the previous quarter, it is still the 13th consecutive quarter with a reading above 50. 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. “Overall, remodelers are reporting steady work in the second quarter,” said 2016 NAHB Remodelers Chair Tim Shigley, CAPS, CGP, GMB, GMR, a remodeler from Wichita, Kan. “With an increase in calls for bids, we should see the market pick up slightly moving forward.”
Home Remodeling Market Index in U.S. Holds Steady in Q2
