Latest News

Aug. 7, 2007 - NAHB Survey Reports Remodeling Drop

August 7, 2007
/ Print / Reprints /
/ Text Size+

As goes home building, so goes home remodeling, according to the index released today by the National Association of Home Builders.

The trade group’s Remodeling Market Index stands at 44.8 for the second quarter, down from 46.1 in the first quarter. Future expectations dropped by more than two points to 44.1

“Not surprisingly, the remodeling market is following the downswing we are seeing in the overall housing market,” said NAHB Chief Economist David Seiders in a press release announcing the index. “We expect some further erosion in the second half of this year and in 2008, followed by a gradual recovery in 2009 and beyond.”

The RMI measures remodeler perceptions of market demand for current and future residential remodeling projects. Any number over 50 indicates that the majority of remodelers view the market conditions as improving.

According to the index, only the Northeast has shown some improvement, with RMI readings moving from 43.4 in the first quarter to 49.5 in the second quarter.

Other regions of the country reported declines in their readings, with the Midwest falling from 47.5 to 44.5, the South declining from 45.9 to 42.3, and the West slowing from 48.2 to 46.8.

“While we have experienced some weakening in the remodeling market, activity has remained relatively steady,” said NAHB Remodelers Chairman Mike Nagel, a remodeler from Chicago. “We may have seen a decline in the number of major remodeling projects. However, the market has been buoyed by an increase in the number homeowners requesting smaller scale projects and home alterations.”

Did you enjoy this article? Click here to subscribe to Supply House Times. Stay connected with us via social media.

You must login or register in order to post a comment.



Image Galleries

BNP Media's Plumbing Group Visits Grundfos North American Headquarters

BNP Media’s Plumbing Group, comprised of the Plumbing & Mechanical, Supply House Times, PM Engineer (pme) and Reeves Journal brands, recently visited Grundfos’ new North American headquarters building in the western Chicago suburb of Downers Grove, Ill.

8/26/14 1:00 pm EST

Free Webinar: Low Temperature Heat Emitter Options in Hydronic Systems

With proper design, you can create systems that require supply water temperatures no higher than 120° F under design load conditions.

Supply House Times


2014 January

SHT's packed January issue incdues the cover story: M&L Supply is rich in heritage and customer service; features:  Industry optimism continues to rise heading into the 2015 AHR Expo, and Distributors discuss top industry issues: Part 2; and so much more!


Table Of Contents Subscribe

Where do you look for new employees?

Where do you look for new employees?
View Results Poll Archive

The Supply House Times Store

2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

CS-OflRGBhomepage.jpgWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


facebook Twitter Updated icon Youtube Updated icon    LinkedIn Updated icon  Google+

Premier 125

Premier 125 button

The information SUPPLY HOUSE TIMES uses to rank the Premier 125 is the most accurate we can gather. It is primarily based on responses to a questionnaire we send to the wholesalers in our database, supplemented with information obtained from industry reports and estimates.