Eye On Housing
The most recent release of Census’ Construction Spending report included significant revisions to the residential improvements spending category. Residential improvements spending is calculated as the amount of total private residential spending on owner-occupied units after accounting for single-family and multifamily expenditures. As discussed in an earlier post, with these changes, the total amount of spending on residential improvements more closely… Read More ›
Tag Archive for ‘RMI’
Share of Remodelers Reporting Labor Shortages Climbs Even Higher
Eighty percent of remodelers reported a shortage of finished carpenters (and 41 percent said the shortage was serious), according to special questions on NAHB’s Remodeling Market Index (RMI) survey in the 3rd quarter of 2015. That’s 8 percentage points higher than NAHB remodelers were reporting just a year ago. The RMI survey asked remodelers about availability of labor in the 12 categories recommended by Home… Read More ›
Remodeling Market Index Over 50 for Ten Straight Quarters
NAHB’s Remodeling Market Index (RMI) was 57 in the third quarter—two points down from the previous quarter, but the tenth straight quarter it has been above the key break-even point of 50. The RMI and all its components lie on a scale of 0 to 100, where an index number above 50 means more remodelers report that activity has improved… Read More ›
In Second Quarter, NAHB’s Index of Remodeler Confidence Rebounds
In the second quarter, NAHB’s Remodeling Market Index (RMI) rebounded two points to 59 (after having slipped slightly from 60 to 57 in the first quarter). An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower. The RMI, which averages ratings of current remodeling with indicators of future activity, has been over… Read More ›
Simple Desire for New Amenities Remains Top Reason to Remodel
According to remodelers in NAHB’s Remodeling Market Index (RMI), a simple “desire for better/newer amenities” ranked as the number one reason customers remodel their homes in 2014, just as it did in 2013. On a scale of 1 to 5 (where 1 indicates never or almost never, and 5 is very often), the average rating on desire for newer amenities was… Read More ›
Remodeling Jobs—Baths Edge Kitchens Again for Top Spot
To lead off National Home Remodeling Month in May, we report results from NAHB’s quarterly Remodeling Market Index (RMI) survey on the most common type of jobs performed by NAHB Remodelers in 2014. The results show that kitchen and bathroom remodeling remain the two most common types of projects, as they have been consistently since NAHB started asking the question… Read More ›
RMI Edges Down, but Remodelers Remain Confident About Improving Market
NAHB’s Remodeling Market Index (RMI) was 57 in the first quarter of 2015, off the historic high point of 60 at the end of 2014, but still above the key break-even point of 50. The RMI and each of its components lies on a scale of 0 to 100, where a number above 50 indicates that more remodelers report the market has… Read More ›
Remodelers See Market Improving
NAHB’s Remodeling Market Index (RMI) was 60 in the final quarter of 2014, indicating widespread confidence among remodelers that the market was improving compared to the previous quarter. The RMI and each of its components lies on a scale of 0 to 100, where a number above 50 indicates that more remodelers report market activity has improved (compared to the… Read More ›
Even More Remodelers Now Report Labor Shortages
If I were a carpenter… I’d have an easy time finding a remodeling business that wanted to employ me in many parts of the country, according to a recent NAHB survey. The survey is the one used to generate NAHB’s Remodeling Market Index (RMI). The RMI survey for the 3rd quarter of 2014 included a set of special questions asking remodelers about availability of labor… Read More ›
Baths Edge Kitchens for Most Common Remodeling Project in 2013
May is National Home Remodeling Month. We lead off a series of posts in recognition of the occasion with results from NAHB’s quarterly Remodeling Market Index (RMI) survey showing that bathrooms remained the most common type of job performed by NAHB Remodelers in 2013. Among remodelers responding to the 4th Quarter 2013 RMI survey, bathroom remodeling was cited as a… Read More ›