Dec. 5, 2007 - Remodeling Activity Rises Slightly In Third Quarter
"Buoyed by continuing strong demand for minor additions and alterations, the
remodeling market is expected to end the year in pretty good shape," said
NAHB Remodelers Chairman Mike Nagel, CGR, CAPS, a remodeler from Chicago. "Though down a bit from the previous quarter,
the remodeling market is not experiencing the dip in production and sales being
seen by the new home building sector of the industry."
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. The RMI has been running
slightly below 50 since the final quarter of 2005.