The National Association of Home Builders' (NAHB) overall Remodeling Market Index (RMI) slipped during the second quarter to 43.9, down from 46.5 in the first quarter. The current market conditions index fell to 44.8 from 46.1, while future market indications dropped to 43.0 from 46.8. Regionally the current market conditions dropped in the Midwest and South but improved slightly in the West and Northeast.
The National Association of Home Builders' (NAHB) overall Remodeling Market Index (RMI) slipped during the second quarter to 43.9, down from 46.5 in the first quarter. The current market conditions index fell to 44.8 from 46.1, while future market indications dropped to 43.0 from 46.8. Regionally the current market conditions dropped in the Midwest and South but improved slightly in the West and Northeast.
"Remodelers have experienced the same hiccup that has rippled through the U.S. economy," said NAHB Remodelers Chairman Bob Peterson, a remodeler from Ft. Collins, Colo. An RMI below 50 indicates that more remodelers report market activity is lower compared to the prior quarter than report it is higher. The entire press release can be read here.
