Tag Archive for ‘remodeling’

Remodeler Confidence Up Strongly Year over Year

Remodeler confidence was up strongly on a year-over-year basis, according to the Remodeling Market Index (RMI) released today by the National Association of Home Builders (NAHB).  In the first quarter of 2021, the RMI posted a reading of 86, up a full 38 points from the first quarter of 2020.  The large year-over-year increase signals a very strong recovery in… Read More ›

Confidence in Remodeling is Strong Despite COVID-19

The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) posted a reading of 79 in the fourth quarter of 2020. The reading indicates remodelers’ confidence in their markets, for projects of all sizes, despite the ongoing negative impacts of the coronavirus pandemic (Table 1). The RMI is based on a survey asking remodelers to rate five subcomponents of… Read More ›

77% of Remodelers Report A Framing Lumber Shortage

With the recent increases in the price of many residential construction materials, and in particular softwood lumber, NAHB wanted to get a better understanding of how these price increases are impacting remodelers. In the Q3 2020 Remodeling Market Index (RMI), remodelers were asked to report on material shortages, if any, as well as material price changes over the last six… Read More ›

Remodeling Industry Confidence Surges in Third Quarter

The National Association of Home Builders’ Remodeling Market Index (RMI) posted a reading of 82 in the third quarter, indicating remodelers’ strong confidence in their markets, for projects of all sizes (Table 1). The strong RMI reading is a reflection of more Americans investing in home remodeling projects as they adapt to the impacts of the coronavirus pandemic. The RMI… Read More ›

Remodeling Market Shows Optimism despite COVID-19

In the second quarter of 2020, The NAHB Remodeling Market Index (RMI) posted a reading of 73, which indicates more remodelers view conditions as good than poor (Table 1). This is the second quarter with a new RMI, redesigned to ease respondent burden and improve its ability to interpret and track industry trends. See Table 1 for results here. The… Read More ›

Home Refinancing Surges

The Mortgage Bankers Association’s (MBA) latest Weekly Application shows an uptick in applications for the week ending July 10, 2020. The Market Composite Index increased by 5.1% from the previous week on a seasonally adjusted basis, owing mainly to the surge in refinancing activity of 11.9% compared to a week before. The increase was partially offset by the slowdown of… Read More ›

Private Residential Spending Declined in May; Significant Revisions for Improvement Spending

NAHB analysis of the Census Construction Spending data shows total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $535.9 billion in May. It was down 4.0% in May, after a 5.1% decline in April, due to the economic consequences of the COVID-19 lockdowns. On a year-over-year basis, however, total private construction spending inched up 0.7%…. Read More ›

Virus Affecting Homeowners’ Willingness to Remodel

A recent NAHB survey shows the negative effect the coronavirus pandemic is having on the decision to remodel.  Over 90 percent of remodelers in the survey reported a slowdown in both the rate at which inquiries are coming in, and in the general willingness of homeowners to remodel at this time. This information was collected via a question added to… Read More ›

New Index for Remodeling Activity Debuts in Q1 2020

The National Association of Home Builders’ (NAHB) redesigned the Remodeling Market Index (RMI) in the first quarter of 2020 in order to ease respondent burden and improve its ability to interpret and track industry trends.  The first reading for this new RMI series was 48. The RMI survey now asks remodelers to rate five components of the remodeling market as… Read More ›

Builders’ and Remodelers’ Use of Technology in 2019

According to a recent NAHB study, although use of some factory-produced components like trusses has become widespread, the newer and more innovative types of construction technology, such as 3D printing and robots, have so far penetrated the residential market only to a very limited extent.  This is true for both single-family builders and residential remodelers. Data on use of technology… Read More ›