Latest News

Aug. 7, 2007 - NAHB Survey Reports Remodeling Drop

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.

Multimedia

Videos

Image Galleries

A pictorial look at Supply House Times' travels in the early part of 2015

Industry events are in full swing. Here’s a pictorial look at Supply House Times’ travels in the early part of 2015.

4/30/15 2:00 pm EDT

Optimizing Variable Flow Pumping for Energy Savings

This session will help engineers ensure they are able to understand the many control modes that are possible with today's modern variable speed pumps to maximize their energy savings. 

Supply House Times

march cover

2015 March

SHT's February issue features cover story: Woman-owned American Precision Supply is an industrial PVF success story and the features: Women in Industry: 2015; Manufacturers enthused after record-breaking 2015 AHR Expo; Planning ahead at the ASA Winter Leadership Conference; and Green products abundant at Design & Construction Week 2015.
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.jpg
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.

STAY CONNECTED

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.