Eye On Housing
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the second quarter of 2023 posted a reading of 68, edging down 2 points from the first quarter of 2023. Even though the Fed has maintained a hawkish position when it comes to interest rates as inflation continues to moderate since it is still above their 2 percent target, the demand for… Read More ›
Tag Archive for ‘remodeling’
Grab Bars Remain the Most Common Aging-in-Place Remodel
The NAHB’s Remodeling Market Index (RMI) survey has asked questions about Aging-in-Place (AIP) periodically, beginning in 2004. According to results from the Q1 2023 survey, 63 percent of professional remodelers undertake projects designed to allow homeowners to Age-in-Place, down from 77 percent in Q4 2018. This is the lowest percentage since the Q2 2006 survey (60 percent). When asked… Read More ›
Remodeling Market Sentiment Edged Up in First Quarter of 2023
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the first quarter of 2023 posted a reading of 70, edging up 1 point from the fourth quarter of 2022. While remodelers are generally more optimistic than their single-family builder counterparts, some are noting negative effects within the market including continued material shortages and higher interest rates. Current overall RMI reading of… Read More ›
Remodelers’ Average Net Profits are Down, NAHB Study Shows
Residential remodeling companies, just like any other private enterprise in a capitalist economy, exist to satisfy the demand of consumers for specific products or services in exchange for a rate of profit commensurate with the risk taken. Companies control when they enter or exit the industry, but their financial performance is intrinsically linked to external factors, such as the number… Read More ›
Remodeling Market Sentiment Weakened in Fourth Quarter but Remains Positive
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the fourth quarter of 2022 posted a reading of 66, falling 17 points from the fourth quarter of 2021. While there is a sharp decline in RMI year-over-year, it remains in positive territory as remodeling continues to outperform the rest of the residential construction sector, whether one looks at construction spending or… Read More ›
Remodeling Market Sentiment Softened in Third Quarter, But Remains Positive
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the third quarter of 2022 posted a reading of 77, declining 10 points from the third quarter of 2021. The RMI is based on a survey that asks remodelers to rate various aspects of the residential remodeling market “good,” “fair” or “poor.” Responses from each question are converted to an index that… Read More ›
Remodeling Market Declines Year-over-Year
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the second quarter of 2022 posted a reading of 77, declining 10 points from the second quarter of 2021. This is the largest year-over-year decrease since the survey was redesigned in Q1 2020. The RMI is based on a survey that asks remodelers to rate various aspects of the residential remodeling market… Read More ›
Household Balance Sheets in the First Quarter
The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the Flow of Funds, show that in the first quarter of 2022, the aggregate market value of all owner-occupied real estate in the United States showed the largest year-over-year percentage gain since 2001. Owners’ equity as a percentage of households’ real estate was the highest… Read More ›
What Do Home Buyers Buy after Moving
NAHB analysis of Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics shows that during the first year after closing on a home sale, home buyers tend to spend considerably more money on furnishings, appliances and remodeling compared to non-moving owners. Buyers of new homes spend most, spending four times as much as non-moving owners and twice as… Read More ›
How a Home Purchase Boosts Consumer Spending
Using the Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics (BLS), NAHB Economics estimates that a home purchase triggers significant spending on appliances, furnishings, and remodeling. NAHB’s most recent estimates are based on the pre-pandemic 2017-2019 data and show that during the first year after closing on the house, a typical buyer of a newly-built single-family detached… Read More ›